A1 Chemicals Pty Ltd v Loremo Pty Ltd [2015] NSWCA 309

A1 Chemicals Pty Ltd v Loremo Pty Ltd [2015] NSWCA 309

The Court declined to exercise discretion to vary previous orders to allow a further week to provide a bank guarantee in lieu of payment into court, on the basis that the appellant had already had sufficient time, no guarantee in terms satisfactory to the respondents was available, and there was no objective certainty as to solvency or provision of security.

Parties
Appellant: A1 Chemicals Pty Ltd; First Respondent: Loremo Pty Ltd; Second Respondent: Hampic Pty Ltd
Jurisdiction
Australia
Judgment Date
02 September 2015
Procedural Posture
Appeal / Interlocutory Application (notice of Motion) in the Court of Appeal
Outcome
Notice of motion dismissed with costs.
Legal Topics
Stay of Enforcement, Bank Guarantee in Lieu of Payment, Variation of Orders, Statutory Demand, Solvency
Civil Procedure Stay of Enforcement Bank Guarantee in Lieu of Payment Variation of Orders Statutory Demand Solvency

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Parties

A1 Chemicals Pty Ltd

Appellant

Loremo Pty Ltd

First Respondent

Hampic Pty Ltd

Second Respondent

Procedural Posture

Appeal / Interlocutory Application (notice of Motion) in the Court of Appeal

Legal Issues

  1. 1 Whether leave should be granted to vary prior orders to permit a bank guarantee in lieu of payment into court for a stay of execution of judgment
  2. 2 Whether discretion should be exercised to grant variation in light of uncertainty as to provision of guarantee and alleged solvency issues

Ratio Decidendi

The Court declined to exercise discretion to vary previous orders to allow a further week to provide a bank guarantee in lieu of payment into court, on the basis that the appellant had already had sufficient time, no guarantee in terms satisfactory to the respondents was available, and there was no objective certainty as to solvency or provision of security.

Court Disposition

Notice of motion dismissed with costs.

Orders

  • On the undertaking of the Appellant's solicitor to pay the requisite filing fees, leave is given for the filing of the Motion dated 2 September 2015.
  • Leave is granted for the filing in Court of the Affidavit of Hamish McLeod dated 1 September 2015.