The defendants moved for security for costs under Rule 56.01(1)(d) in an action brought by the plaintiff alleging an improvident sale of a commercial property under power of sale.
The plaintiff corporation had no assets in Ontario, but its sole shareholder was not impecunious.
The court found that the plaintiff failed to demonstrate a 'good chance of success' on the merits to avoid posting security.
The court ordered the plaintiff to post $60,000 in security for costs in installments.
