International Litigation Partners Pte Ltd v Chameleon Mining NL [2011] NSWCA 186

International Litigation Partners Pte Ltd v Chameleon Mining NL [2011] NSWCA 186

The stay should be granted on conditions because ILP's proposed special leave application had a reasonable basis: reasoned judgments in the proceedings supported both sides of the disputed outcome and the Corporations Act issues concerning litigation funding and managed investment schemes were of general public importance. The balance of prejudice was best addressed by preserving each party's ability to recover if ultimately successful: enforcement of the relevant orders was stayed, ILP was restrained from enforcing its charge, and ILP was required to give undertakings and provide $870,000 security to protect Chameleon's restitution and costs position.

Jurisdiction
Australia
Judgment Date
05 July 2011
Procedural Posture
Application for Stay Pending Application for Special Leave to Appeal to the High Court / Court of Appeal Procedural Ruling After Judgment and Orders Made on Appeal and Cross Appeal
Outcome
Stay granted on conditions; ILP restrained from enforcing the charge; costs of the stay application ordered to be the respondents' costs in the proceedings in this Court.
Legal Topics
['stay Pending Special Leave Application' 'prospects of Success' 'balance of Prejudice' 'security as Condition of Stay' 'litigation Funding' 'costs of Stay Application']
['civil Procedure' 'corporations Law'] ['stay Pending Special Leave Application' 'prospects of Success' 'balance of Prejudice' 'security as Condition of Stay' 'litigation Funding' 'costs of Stay Application']

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Procedural Posture

Application for Stay Pending Application for Special Leave to Appeal to the High Court / Court of Appeal Procedural Ruling After Judgment and Orders Made on Appeal and Cross Appeal

Legal Issues

  1. 1 ["Whether enforcement of the Court of Appeal's orders should be stayed pending ILP's application for special leave to appeal to the High Court and any appeal if leave were granted." "Whether ILP's proposed special leave application had a reasonable basis or was plainly hopeless." 'How the prejudice to ILP and the respondents should be balanced, including whether security should be provided as a condition of any stay.' 'What costs order should be made on the stay application.']

Ratio Decidendi

The stay should be granted on conditions because ILP's proposed special leave application had a reasonable basis: reasoned judgments in the proceedings supported both sides of the disputed outcome and the Corporations Act issues concerning litigation funding and managed investment schemes were of general public importance. The balance of prejudice was best addressed by preserving each party's ability to recover if ultimately successful: enforcement of the relevant orders was stayed, ILP was restrained from enforcing its charge, and ILP was required to give undertakings and provide $870,000 security to protect Chameleon's restitution and costs position.

Court Disposition

Stay granted on conditions; ILP restrained from enforcing the charge; costs of the stay application ordered to be the respondents' costs in the proceedings in this Court.

Orders

  • ["Upon ILP through its counsel giving the usual undertaking as to damages and an undertaking to prosecute expeditiously its current application for special leave to appeal to the High Court and, if leave be granted, its appeal, and on condition that ILP provide security in an amount of $870,000 with respect to the...