From the evidence that was adduced, it was found that the appellant was under receivership because it could not pay its debenture holders, it was under liquidation proceedings for failure to pay a judgment creditor, and was indebted to many creditors and was involved in multiplicity of suits.
Therefore, it was found that it was right to order for security of costs, considering the financial status of the appellant.
Further, the court found that there was no basis for bias by the trail judge against the appellant.
Concerning last ground of appeal, it was found that security for costs at 50,000,000/= was excessive, and was thereby reduced to 30,000,000/= which was payable within 30 days.
Accordingly, the appeal was partly allowed on that ground.