Visnic v Sywak & Ors [2007] NSWSC 918

A full stay of the winding up orders is refused as the balance of prejudice and convenience does not warrant it; appropriate protection is given by restraining sale or marketing of specified properties and preventing distributions without notice or pending determination of the appeal.

Jurisdiction: Australia
Judgment Date: 31 July 2007
Procedural Posture: Application for Stay Pending Appeal / Post Judgment Motion for Stay Order
Outcome: Stay refused. Directions given for sale/marketing of assets only upon notice and for no distribution or finalisation of winding ups without order.
Legal Topics: ['stay Pending Appeal' 'winding Up Order']

['procedure'] ['stay Pending Appeal' 'winding Up Order']

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Procedural Posture

Application for Stay Pending Appeal / Post Judgment Motion for Stay Order

Legal Issues

1 ['Whether to grant a stay of the winding up orders pending appeal' 'Whether sale or distribution of corporate assets should be stayed or subject to notice']

Ratio Decidendi

Court Disposition

Stay refused. Directions given for sale/marketing of assets only upon notice and for no distribution or finalisation of winding ups without order.

Orders

["Until determination of appeal or further order, liquidator of Adellos Pty Limited not to sell or market specified property except on seven days written notice to first defendant's solicitors." "Until determination of appeal or further order, liquidator of Castlove Pty Limited not to sell or market specified...