Stockbroker defendants to bear costs for failure to account in ward of court fund management action

The Court of Appeal has set aside a portion of a High Court costs ruling that held the first defendant personally liable for costs arising from litigation concerning the management of a ward of court's funds. The original decision required the stockbroker defendants to provide an account of their dealings with the fund. Subsequent hearings focused on the adequacy of an account prepared by the first defendant, which the High Court ultimately accepted as sufficient. The Court of Appeal determined that costs from June 28, 2018, to June 9, 2020, should be borne by the stockbroker defendants on a joint and several basis, save for specific excluded defendants, and reduced the plaintiffs' awarded costs from 65% to 20%.