State Bank of NSW v Currabubula Holdings P/L & Anor [1999] NSWCA 181

State Bank of NSW v Currabubula Holdings P/L & Anor [1999] NSWCA 181

Although the Court had jurisdiction to grant the stay sought, the Bank proved no grounds for its fear that Currabubula Holdings Pty Limited would not repay the judgment sum, and the evidence indicated Currabubula had a substantial surplus of assets over liabilities; the Notice of Motion was therefore dismissed with costs.

Jurisdiction
Australia
Judgment Date
07 June 1999
Procedural Posture
Notice of Motion for Stay Pending Appeal / Court of Appeal Application
Outcome
Notice of Motion dismissed with costs.
Legal Topics
['stay Pending Appeal' 'proof of Risk of Non Repayment']
['civil Procedure' 'appellate Procedure'] ['stay Pending Appeal' 'proof of Risk of Non Repayment']

Case Brief

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Procedural Posture

Notice of Motion for Stay Pending Appeal / Court of Appeal Application

Legal Issues

  1. 1 ["Whether the appellant State Bank of NSW should obtain a stay of Einstein J's order pending determination of the appeal." 'Whether the Bank proved grounds for its fear that it would not be repaid if a stay were refused.']

Ratio Decidendi

Although the Court had jurisdiction to grant the stay sought, the Bank proved no grounds for its fear that Currabubula Holdings Pty Limited would not repay the judgment sum, and the evidence indicated Currabubula had a substantial surplus of assets over liabilities; the Notice of Motion was therefore dismissed with costs.

Court Disposition

Notice of Motion dismissed with costs.

Orders

  • ['Notice of Motion dismissed with costs.']