Increasing agreed security

Kazakhstan v Istil Group Inc CA SJ 25 November

In an application to the UK courts for relief under the Arbitration Act 1996, the claimant agreed to provide £30,000 security for costs and it was agreed that that sum would not be increased even if there were a material change of circumstances. Nevertheless, the defendant applied to the court for an order for further security of costs on the grounds that there had been a significant change of circumstances.