Richardson International Ltd. v. The Starodubskoe

In Admiralty Practice, Costs and Security for Costs on (Updated )

In this case the court held that the cost of posting bail is an appropriate matter to factor into an award of security for costs. The court noted that local bonding costs might be a guide to the amount of security. The court reviewed the evidence as to the actual cost of posting the bail and ordered security for bail at 3.125% of the amount of the bail per year for two years. The court disallowed a request for 20% of the amount of the bail. This was the amount the Plaintiff’s managers purported to charge the Plaintiff for arranging bail. The court considered this unreasonable.