Introduction
In two recent decisions, the Supreme Court of Victoria has
provided useful practical guidance on the type of evidence that
will be required when a plaintiff wishes to provide security for
costs in the form of a deed of indemnity from an overseas insurer
or litigation funder.
The use of litigation funders to finance legal proceedings is
becoming increasingly common in Australia. This is particularly
true in the case of plaintiff liquidators and companies in
liquidation, which frequently rely on litigation funding from
overseas funders to finance legal proceedings and often find
themselves the target of security for costs applications.
This article will examine the decisions of DIF III Global
Co-Investment Fund LP & Anor v BBLP LLC & Ors [2015]
VSC 484 (DIF III Proceedings) and Australian
Property Custodian Holdings Ltd (In Liquidation) v Pitcher Partners
(a firm) & Ors [2015] VSC 513 (APCH
Proceedings) and will address some of the key issues
