Vald. Nielsen Holding A/S & Anor v Baldorino & Ors  EWHC 1033 (Comm)
Key areas: security for costs; High Court
This was an application for an additional security for costs.
The Claimant had already been ordered to give security in the sum of £1.2 million, but the Defendants submitted that there had been a “material change of circumstances” to justify an order for an additional £850,000.00, due to the Claimant serving Re-Amended Particulars of Claim.
The Claimant suggested that there was no need for additional security and the Defendants’ evidence in support was “inadequate and unsatisfactory” and contained an “excessive” costs estimate.
The Court noted that the Claimant had not suggested that a further payment of security would “stifle” the claim, and so overall, it was reasonable to order further security, but only in the sum of £200,000.00.
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