![Claim No: CL-2023-000687 - [2025] EWHC 1157 (Comm)](https://backend.juristeca.com/files/emisores/logo_WAai98v.png){kind=logo}
Introduction
This is the Defendant’s (“RSUK”’s) application for security for costs, heard at the first CMC in these proceedings, which were commenced on 5 October 2023. Although applications of that kind are routinely resolved by an ex tempore judgment at the CMC, this application raised a number of complex issues, with the result that judgment was reserved. The complexity of those issues has defied my attempts at an introductory summary, and I have decided that the attempt is best returned to once I have summarised the factual background.
- Heading
- Introduction
- A The background
- The Escrow Agreement
- The RSUK USD Client Account
- Events subsequent to the payment into the Escrow Account
- B The proceedings
- C RSUK’s application for security for costs
- D The legal position
- RSUK and Barclays
- E Is there “reason to believe” the Balance will not be available to RSUK to discharge any costs liability of the Claimants to RSUK?
- RSUK’s position
- Does Barclays’ position in relation to processing instructions for the payment of the Balance impact on the Claimants’ ability to pay any costs order made in RSUK’s favour?
- H aving regard to all the circumstances of the case it is just to make an order for security for costs?
- Conclusions