“Irrevocable undertaking” to pay adverse costs not enough to defeat security application – Litigation Futures
‘An irrevocable undertaking by a claimant company’s owner to pay adverse costs is not equivalent to after-the-event (ATE) insurance and so not enough to defeat an application for security for costs, the High Court has ruled.’
Litigation Futures, 20th February 2017
Source: www.litigationfutures.com