There are lots of cases like these. Some win, some lose.
Few things to take into account:
1. Sue the right party. The right party would be the JMB or the MC, not the security company.
2. The suit is for negligence. JMB would have to be shown to be negligent by appointing a security company whihc is not up to par. The test is objective. One needs to look at the facts of the case first. What were the precautions taken by JMB ? How many guards, security system, CCTV, access cards etc. Did they fail to take precautions?
3. JMB is not respnsible for the safety and security of private units. They are only responsible for the common property only. However, if the access point and entry point into the condo is guarded by individuals appointed by the JMB, then they have a duty to check and inspect the guests that enter. It would be a stronger case if it was an inside job, i.e. the guards themselves did it.
4. Losses must be proven specifically with documents. Jewelry lost? Produce receipt. Cash? Show bank accounts. Other items - must show receipts or it may be deemed to be an afterthought.
5. Does the JMb have money? This is important. No point obtaining a paper judgment.
It will not be easy to successfully sue the JMB, so proper preparation and gathering of evidence is very important before deciding whether to proceed.
3. What do you mean by responsible for common property only ? If owner unit is broken in, it is a private unit.
5. MC said they don't have much money to buy CCTV or hire more guards, can that be taken as good excuse ?
Every month, there are few break-ins during the past year.