Liquidators should think very carefully before bringing or continuing expensive proceedings for damages against impecunious defendants, particularly when they involve allegations of fraud. They should realise that they might not be able to extract themselves from those proceedings save on terms requiring payment of the defendant's costs. However where a defendant maintained an unreasonable and unjustified stance in negotiations for settlement, that was a good reason to order that he should be deprived of a proportion of his costs on discontinuance.

[2005] EWHC 994 (Ch)

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