Fanma Pty Ltd v Ryan Kay [2023] NSWSC 419

Supreme Court New South Wales

Medium Neutral Citation: Fanma Pty Ltd v Ryan Kay [2023] NSWSC 419 Hearing dates: 20 April 2023 Date of orders: 20 April 2023 Decision date: 20 April 2023 Jurisdiction: Equity - Commercial List Before: Darke J Decision: Plaintiff ordered to provide further security for the second defendant's costs in the sum of $210,000. Catchwords: COSTS – security for costs – impecunious corporate plaintiff – application for further security by the second defendant – whether there has been a material change in circumstances since the first application for security for costs – whether the delay in bringing the application for further security for costs warrants its refusal – consideration of the quantum of the security sought – plaintiff ordered to provide further security Legislation Cited: Corporations Act 2001 (Cth), s 1335 Uniform Civil Procedure Rules 2005 (NSW), r 42.21 Cases Cited: Fanma Pty Limited (formerly Playup Australia Pty Ltd) v Kay [2020] NSWSC 1823 Liberty Grove (Concord) Pty Limited v Mirvac Projects Pty Limited [2008] NSWSC 48 Misthold Pty Ltd v NSW Historical Sites and Railway Heritage Company Pty Ltd [2022] NSWSC 42 Category: Procedural rulings Parties: Fanma Pty Ltd (Plaintiff) Ryan Kay (First Defendant) Alexander Kay (Second Defendant/Cross-Claimant) Playup Australia Pty Ltd (First Cross-Defendant) Daniel Simic (Second Cross-Defendant) Richard Sapsford trading as 156 (Third Cross-Defendant) Representation: Counsel: Mr E A Walker (Plaintiff) Mr N Kabilafkas (Second Defendant/Cross-Claimant)