The Court granted an interim injunction restraining the first defendant from acting on redevelopment notices, but conditioned the injunction on the plaintiff providing $150,000 in security (by bank guarantee, bond, or deposit into court) in addition to the usual undertaking as to damages, given concerns about the plaintiff's financial position as a recently incorporated special purpose company with thin and concentrated assets. The Court also ordered $190,000 in security for costs under s 1335 of the Corporations Act, finding the statutory threshold was met on the same financial concerns, and that the arguably defensive nature of the proceedings did not decisively weigh against the order in the circumstances.
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