Hillam v Ample Source International Ltd [2012] FCA 374

Hillam v Ample Source International Ltd [2012] FCA 374

The interlocutory orders sought would go beyond merely preserving the status quo; there was insufficient credible or timely material supporting funding or sale proposals. Given uncertainty about the major asset and unsatisfactory evidence regarding funding or compliance with earlier conditions, the interlocutory application must be dismissed with costs. Stay orders previously issued remain in effect on the same terms.

Jurisdiction
Australia
Judgment Date
13 April 2012
Procedural Posture
Appeal / Interlocutory Application (orders Pending Appeal)
Outcome
Interlocutory application dismissed with costs; stay orders continue on same conditions until further order.
Legal Topics
['winding Up' 'oppression' 'interlocutory Relief' 'stay of Orders' 'preservation of Status Quo']
['corporations Law' 'practice and Procedure'] ['winding Up' 'oppression' 'interlocutory Relief' 'stay of Orders' 'preservation of Status Quo']

Case Brief

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Procedural Posture

Appeal / Interlocutory Application (orders Pending Appeal)

Legal Issues

  1. 1 ['Whether interlocutory orders should be made for reconstitution of the board and sale of a substantial asset pending appeal' 'Whether to continue stay of winding up order']

Ratio Decidendi

The interlocutory orders sought would go beyond merely preserving the status quo; there was insufficient credible or timely material supporting funding or sale proposals. Given uncertainty about the major asset and unsatisfactory evidence regarding funding or compliance with earlier conditions, the interlocutory application must be dismissed with costs. Stay orders previously issued remain in effect on the same terms.

Court Disposition

Interlocutory application dismissed with costs; stay orders continue on same conditions until further order.

Orders

  • ["Appellants' interlocutory application dated 11 April 2012 dismissed with costs." "Appellants' interlocutory application filed on 19 March 2012 dismissed with costs." 'Costs of interlocutory application filed on 22 February 2012 be costs in the appeal.' 'Stay orders made on 27 February 2012 continue on the same...