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security for costsliquidationstanding to sue
re Staway Pty Ltd
In the matter of Staway Pty Ltd (in liq) (recs and mgrs apptd) [2013] NSWSC 819
Key Principle
A company in liquidation that resists an order for security for costs on the ground that security would stultify its claim must show that those who stand behind it and would benefit from the litigation (shareholders and creditors) are themselves unable to provide security; and the Court has power, in its discretion, to permit a person other than the liquidator to bring proceedings in the company's name.
Area of Law
General
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