Contract With Security For Costs In Nassau
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An order for security for costs protects a party (often a defendant) against the risk that they will win at trial and be awarded their costs, but then not be able to enforce a costs order against the other (losing) party, either within the jurisdiction or abroad.
It serves to ensure that a successful defendant is compensated for at least a portion of his legal costs. Hong Kong courts can order a plaintiff to provide security where there is a risk that if the claim is ultimately unsuccessful, the plaintiff would not be able to satisfy the costs orders.
One option available to a defendant is to make an application for security for costs – essentially, a court order, which allows a party to ensure that they will be compensated for their legal costs for representation if they succeed in defending a claim.
Filing & Other Court Fees: Filing fees and other court charges including mandatory e-filing charges are recoverable as costs. Discretionary court costs may require the agreement of the client, but an attorney generally has broad implied authority to incur costs which are reasonably necessary to the client's case.
Definition. 1. Security for claims is a provisional measure in international arbitration. A party subject to a security for claims order is required to post security in respect of the opposing party's substantive underlying claims before the final award is issued.
The normal rule in Irish litigation is that costs follow the event, i.e. the losing party pays the other party's legal costs. Where there is a real concern about the financial position of the party bringing the proceedings, the defendant may look for what is known as an order for security for costs.
An order for security for costs entails “balancing the interest of a party to pursue its claim against the right of a potentially successful respondent to recover its reasonable costs of defending against the claim.”4 Article 38(2) thus sets forth certain factors, which largely reflect the Chartered Institute of ...
After the judgment is rendered, a party can have its legal costs reimbursed by the opposite party (art. 339 and ss C.C.P.). In principle, legal costs are owed to the successful party, unless the Court decides otherwise (Art.
The test is therefore twofold, firstly that the Court is satisfied that it is just to make the order, and secondly, one or more of the conditions in ss2 or an enactment permits the court to order security.