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ATE insurance policy held to be inadequate security for US$1.75 million of costs

Overview

In a judgment handed down on 17 March 2017 (but which has only recently become publicly available) in Catalyst Managerial Services v Libya Africa Investment Portfolio, Mr Justice Teare held that an After The Event (ATE) insurance policy put before the court in purported satisfaction of a security for costs order, was not in a reasonably satisfactory form.

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