Oliver Cook (led by Ahmed SC) appeared for Credit Suisse Equities (Australia) Pty Ltd, instructed by Mallesons.
Matthew Jones KC (leading J Dudley) appeared for a company director, instructed by Buchanan Rees Dispute Lawyers.
This judgment concerned an order to secure costs up to and including the completion of disclosure. The issues were whether the Court’s discretion should be exercised to order security for costs in respect of each of the defendants and whether the fifth and eighth defendants’ claim of privilege against self-incrimination should disentitle their claim for security. The Court considered that there was a reasonable basis to be satisfied that the plaintiff will not be able to pay the defendants’ costs, and the justice of the case requires making an order for security of costs. Further it was held that the claiming of the privilege against self-incrimination does not operate as a disentitling factor in the exercise of the discretion of an order seeking security of costs, but it is a factor to be considered. The plaintiff was ordered to provide security for the costs for completion of disclosure for the first, second, third, fifth, sixth, seventh and eighth defendants.
The judgment can be read by clicking here
