The Isle of Man Appeal Court (the Staff of Government Division) judgment in Spirit ofMontpelier v Lombard Manx[2015] has addressed important issues in relation to company and insolvency laws and the powers of judges to create and develop principles of common law in order to serve the interests of justice.

Facts

In Prest v Petrodel Resources Limited (in Liquidation)(1) the Manx court recently confirmed that where security for costs orders is appropriate, the amount ordered will not always be restricted to a sum representing the extra costs incurred in enforcing an order in the jurisdiction in which the claimant is resident or in which assets are situated.

Background