000			01471cab a2200181 4500
001			ABS40093
008			090401t1988 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u21422
041			_aeng
245			_aCheffick Ltd v JDM Associates ; D Y Davies Muir Ltd ; BCW Consulting Engineers ; Henry Riley and Son ; and Wiltshier Tonbridge Ltd
260			_c1988
350			_a0
490			_aConstruction Industry Law Letter _v(1988) CILL 446-447(2)
520			_aCA 29 July 1988 Appeal from a decision of Judge Fox-Andrews, dismissing an application for security for costs . Action arose out of refurbishment of Queen`s Hotel , Brighton . Applications which gave rise to the appeal were made under Companies Act 1985 s726(1) which stated that the Court had the jurisdiction to stay all proceedings until security is given if "it appears by credible testimony that there is a reason to believe that the company is unable to pay the defendant`s costs if successful in his defence". CA accepted the judge`s finding that the net assets of Cheffick were £1.2m and the costs which would be incurred by the defendants were £800,000. On this basis CA had no jurisdiction to make an order for security as Cheffick`s net assets substantially exceeded the estimated amount of the costs. Appeals were dismissed. CA also considered claims by defendants that the assessment of costs were wrong.
690			_aBUILDING AND CONSTRUCTION-CASE LAW
942			_n0
948			_c04/03/1997
999			_c14382 _d14382