Stacks Managed Investments Limited v Rambaldi and Cull as trustees of the Bankrupt Estate of Reinhardt [2020] NSWSC 722

Stacks Managed Investments Limited v Rambaldi and Cull as trustees of the Bankrupt Estate of Reinhardt [2020] NSWSC 722

Although the evidence was limited and there was little basis for any substantive defence or application to set aside judgment, the combination of some evidence of a possible refinancing and extraordinary hardship circumstances arising from bushfire damage, the COVID-19 crisis, self-isolation with children and lack of local accommodation justified a short stay of execution of the writ of possession until 5:00pm on 28 June 2020, while preserving the plaintiff's entitlement to enforce after that date absent further order or repayment.

Jurisdiction
Australia
Judgment Date
28 May 2020
Procedural Posture
Urgent Application for Stay of Execution of Writ of Possession in Mortgage Possession Proceedings / Procedural Ruling on Notice of Motion Before Duty Judge
Outcome
Stay granted in part for one month; applicants joined as second and third defendants; costs reserved.
Legal Topics
['stay of Execution of Writ of Possession' 'mortgagee Possession' 'farm Debt Mediation Act 1994 (nsw)' 'refinancing' 'hardship']
['mortgages and Securities' 'bankruptcy' 'civil Procedure'] ['stay of Execution of Writ of Possession' 'mortgagee Possession' 'farm Debt Mediation Act 1994 (nsw)' 'refinancing' 'hardship']

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Procedural Posture

Urgent Application for Stay of Execution of Writ of Possession in Mortgage Possession Proceedings / Procedural Ruling on Notice of Motion Before Duty Judge

Legal Issues

  1. 1 ['Whether execution of the writ of possession should be stayed because there may be a substantive defence, including possible application of the Farm Debt Mediation Act 1994 (NSW).' 'Whether the prospect of refinancing justified a stay of execution of the writ of possession.' 'Whether hardship arising from occupation of the property, bushfire damage and the COVID-19 health crisis justified a stay.']

Ratio Decidendi

Although the evidence was limited and there was little basis for any substantive defence or application to set aside judgment, the combination of some evidence of a possible refinancing and extraordinary hardship circumstances arising from bushfire damage, the COVID-19 crisis, self-isolation with children and lack of local accommodation justified a short stay of execution of the writ of possession until 5:00pm on 28 June 2020, while preserving the plaintiff's entitlement to enforce after that date absent further order or repayment.

Court Disposition

Stay granted in part for one month; applicants joined as second and third defendants; costs reserved.

Orders

  • ['The execution of the writ of possession is stayed so that it may not be executed prior to 5:00pm on 28 June 2020.' 'Sara Ducat and Denis Reinhardt are added to the proceedings as the second and third defendants.' 'The question of costs is reserved.']