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Court of Appeal, in an appeal of High Court order striking out alleged professional negligence proceedings, makes order that the plaintiff provide security for costs in the amount of €40,528.50 for each defendant in the appeal, finding that the plaintiff has not provided the necessary documentary evidence to support the loss it maintains it has suffered by reason of the defendant’s alleged negligence, nor demonstrated that, but for the wrongdoing asserted against the respondents, it would not have sustained that loss and would have made sufficient profits such that it would be in a position to pay the likely costs of a successful defendant.
Practice and procedure – security for costs – s. 390 of the Companies Act 1963 – alleged professional negligence – Order 19, r. 28 of the Rules of the Superior Courts – Rayan has appealed the order striking out its proceedings - in response, the respondents have issued the within application seeking security for their costs – Order 86A, r. .9 – whether the defendant has established a prima facie defence – Rayan’s ability to meet an Order for costs on the appeal – whether there are special circumstances to justify the refusal of the relief – Rayan has yet again failed on this application to provide the necessary documentary evidence to support the loss it maintains it has suffered by reason of the respondent’s negligence – Rayan’s appeal stayed until such time as it provides in respect of each defendant a sum of €40,528.50 as security for their costs of the appeal.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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