DANILINA – V – CHERNUKHIN  EWHC 39 (Comm)
PCB acted for the third defendant in successfully obtaining security for costs in relation to this multi-million dollar dispute. The Claimant was resident in Russia and there was evidence before the Court as to the difficulties in enforcing an English costs order in Russia. The Court considered that the correct approach was to make a single order of a substantial amount of security to reflect the real (but small) risk of non-enforcement and greater (but less financially extensive) risk of increased cost and delay. That meant that the defendants would be covered for the financial risk of the more likely aspects of increased cost and delay. There would not be full security in respect of the costs of the action, but the amount ordered would go some way to covering and guarding against the risk of non-enforcement.