Westonia Earthmoving Pty Ltd v Cliffs Asia Pacific Iron Ore Pty Ltd

[2013] WASC 57

Supreme Court of Western Australia

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Interrogate

Catchwords

1. Practice and Procedure
2. › Costs
3. › Security for costs
4. › Corporate plaintiff
5. › Discretionary factors
6. › Whether security should be ordered where defendant holds contractual security
7. › Whether defendant's wealth relevant
8. › Corporations Act 2001 (Cth), s 1335(1)

Quick Take

The decision provides a comprehensive enumeration of the discretionary factors relevant to security for costs under s 1335(1) of the Corporations Act 2001 (Cth). The availability of contractual security already held by the defendant, from which costs could potentially be satisfied, is a significant factor weighing against an order for security for costs. The financial capacity of a defendant to absorb costs is not, of itself, a relevant consideration against ordering security.