The Competition Appeal Tribunal (the CAT) in Kerilee Investments Ltd v International Tin Association Ltd (Case No: 1379/5/7/20) has ordered that the Claimant shall give security for the Defendant’s costs in the proceedings, of £400,000 to be paid in instalments.
This is believed to be the first time that security for costs has been obtained in CAT proceedings. The claim is brought on a stand-alone basis, whereas previous unsuccessful applications for security have been brought in follow-on proceedings.
At a CMC in October, the Tribunal had directed that the Defendant’s application for security would be heard on 17 December 2021, after noting that “at present there appears to be a clear prima facie case for security for costs” and that “if the Claimant is going to continue to oppose the application for security for costs, we would expect full, frank and detailed evidence in relation to the Claimant’s financial position and possible sources of funding, including from directors or shareholders.” The application then settled by consent.
The Tribunal will confirm whether the payment is to be made to it, or by some alternative method.
The Tribunal’s order can be found here.
Laura Elizabeth John and Jack Williams act for the International Tin Association, instructed by Sherrards.