The defendants brought a motion for security for costs against the corporate plaintiff in an action arising from the purchase of a radiology clinic.
The plaintiff claimed it was impecunious and that its claim was not devoid of merit.
The court found that the plaintiff failed to provide sufficient financial disclosure to establish impecuniosity and that the merits of the complex claim could not be properly assessed at the interlocutory stage.
Applying a holistic approach, the court ordered the plaintiff to post security for costs in the total amount of $80,000 on a partial indemnity scale.
