Key Facts:

• The case involves two co-owners of a commercial property in Mount Pearl, Newfoundland and Labrador.
• The dispute stems from defalcations (misappropriation of funds) by an officer named Gerald Levy.
• An arbitration was held, which resulted in an award favoring the Applicant (Zenda Mount Pearl Square Enterprises Limited Partnership).
• The Respondent (MP TEI Realty Limited Partnership) sought judicial review of the arbitration award.

Application for Security for Costs:

• The Applicant requested security for costs amounting to $8,685.50, claiming the Respondent was impecunious (financially insolvent).
• Legal Framework: The application was made under Rule 21.01(f) of the Rules of the Supreme Court, 1986, which allows security for costs if the proceeding is frivolous, vexatious, and the party is financially unable to pay.

Court's Analysis and Decision:

• Impecuniosity Argument: The Applicant argued the Respondent was impecunious, citing an unpaid balance of $2,668.13 to the Arbitrator and the Respondent's Quebec incorporation.
• Respondent’s Defense: The Respondent claimed the unpaid fee was an oversight and had been paid. They also argued they had valid grounds for appealing the arbitration decision.
• The Court found that the Respondent was not impecunious and had significant assets within Newfoundland and Labrador.
• Merit of the Case: The Court also did not find the Respondent’s case to be frivolous or vexatious.
• Outcome: The application for security for costs was dismissed, and costs were awarded to the Respondent under Column III of the Schedule of Costs. No amount specified.