n Professional Accountant - Security for the costs of litigation

Volume 2008 Number 1
  • ISSN : 1680-7537


This provision seeks to pre-empt the mischief that would occur if shareholders who would benefit financially if their company were successful in litigation as plaintiff or defendant were to shield behind its separate corporate identity and their own limited liability as shareholders if the company turned out to be unsuccessful in that litigation and was ordered to pay the defendant's legal costs, and was then unable to do so.

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