The case confirms that where a corporate appellant has minimal paid-up capital, no disclosed real property or assets, and has failed to pay costs ordered below, the threshold under s 1335(1) of the Corporations Act 2001 (Cth) is satisfied. The satisfaction of the threshold is itself a substantial factor in the exercise of discretion. A bare assertion that security would stifle the appeal, without supporting evidence, is insufficient to resist an order. The court does not generally set out to give a complete indemnity to the respondent when fixing the quantum of security.
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