2024-12-17 - CD Munich - NanoString v. President And Fellows Of Harvard College - UPC_CFI_252/2023

1. The Court has the power to release a security for legal costs and other expenses imposed under Rule 158 RoP on the basis of Rule 352.2 RoP. 2. A security should be released when the reasons for imposing the security have ceased to exist. This will generally be the case where a final and non-appealable judgement has removed the possibility of the event for which security was ordered. Further, if the facts and circumstances that led to imposing the security order have materially changed so that the balance of interests is in favour of releasing a security, this can also be a reason to release the security.

The Munich Central Division rejected the application for releasing a security as being not well-founded. The applicant had argued that it was solvent and the previously ordered security was unneccessary but the Court found the substantiation lacking. The Court granted leave to appeal as this was the first order on releasing a security.