Security for Costs

Crosswest v Allstrike Enterprises [2014] WASC 27

The borrower sought a declaration that two mortgages were void. The lender applied for security of costs on the basis of the likely inability of the mortgagor to pay any costs. The court refused the application on the following grounds: The owner of the company gave a personal undertaking; The borrower’s assets were the subject …

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Friendly Inn Holdings v St George Bank [2012] NSWSC 441

A costs order was sought by the bank against the sole shareholder and funder of the borrower. The court found that the shareholder concealed information so that the borrower could remain in occupation of the property for as long as possible. The court held that this justified an order for indemnity costs against the company …

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Equititrust v RM Walsh Land Holdings [2012] NSWSC 427

The trustee of a mortgage fund sued the borrower on their defaulting loans. The borrower sought security for costs against the trustee of the fund. The rules empower the court to make a security for costs if there is reason to believe that the plaintiff will be unable to pay a costs order. The trustee …

Equititrust v RM Walsh Land Holdings [2012] NSWSC 427 Read More »

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