Security for costs – payment out before assessment

The NSW Court of Appeal determined that an amount held by the Registrar as security for costs could be paid out before assessment. McColl JA held that, while each case will depend on its own facts, this was one where there was no strong, if any, possibility of the beneficiary being in a position where it would have to repay the moneys. [Case ref: Summer Hill Business Estate Pty Ltd v Equititrust Ltd [2011] NSWCA 211]