Vintage Marine Art Pty Ltd v Henderson & Cremer (No 2)

(2019) 101 NSWLR 77; [2019] NSWCA 252

NSW Court of Appeal

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Interrogate

Catchwords

1. Practice and Procedure
2. › Security for costs
3. › Further security
4. › Where security order already made
5. › Whether material change of circumstances required
6. › Whether application should be treated as stand-alone or in light of earlier determination
7. › Corporations Act 2001 (Cth), s 1335
1. Practice and Procedure
2. › Security for costs
3. › Discretionary considerations
4. › Personal undertaking by director to pay costs
5. › Whether undertaking is decisive or merely a factor
6. › Corporations Act 2001 (Cth), s 1335
1. Practice and Procedure
2. › Security for costs
3. › Stultification
4. › Whether ability of impecunious litigant to raise funds for own lawyers demonstrates ability to provide security

Quick Take

An application for further security for costs must be assessed in light of the earlier determination, not as a stand-alone application, and requires demonstration of a material change of circumstances; a personal undertaking by a director to be liable for costs, even if unsupported by assets, is a very powerful discretionary consideration against ordering security.