C v Trilogy Management and Others [2012] JCA 113 (08 June 2012)

C v Trilogy Management and Others [2012] JCA 113 (08 June 2012)

The stay of execution should be continued pending appeal because lifting the stay would render the appeal nugatory, the appeal is presented in good faith, has a realistic chance of success, and there are no exceptional circumstances justifying refusal of the stay.

Citation
[2012] JCA 113
Parties
Applicant: Mrs C; First Respondent: Trilogy Management Limited; Second Respondent: YT Charitable Foundation (International) Limited
Jurisdiction
Jersey
Judgment Date
08 June 2012
Procedural Posture
Application for Stay of Execution Pending Appeal / Single Judge Hearing in Court of Appeal
Outcome
Stay of execution continued pending determination of appeal.
Legal Topics
Stay of Execution, Dividend Distribution, Accounting Standards, Trustee Powers
Trusts Company Law Charity Law Stay of Execution Dividend Distribution Accounting Standards Trustee Powers

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Parties

Mrs C

Applicant

Trilogy Management Limited

First Respondent

YT Charitable Foundation (International) Limited

Second Respondent

Procedural Posture

Application for Stay of Execution Pending Appeal / Single Judge Hearing in Court of Appeal

Legal Issues

  1. 1 Whether stay of execution should be continued pending appeal
  2. 2 Proper construction of Article 96 of JY's Articles of Association regarding dividend distribution
  3. 3 Effect of accounting standards on determination of profits for dividend purposes

Ratio Decidendi

The stay of execution should be continued pending appeal because lifting the stay would render the appeal nugatory, the appeal is presented in good faith, has a realistic chance of success, and there are no exceptional circumstances justifying refusal of the stay.

Court Disposition

Stay of execution continued pending determination of appeal.

Orders

  • Stay of execution of the relevant parts of the Royal Court Order of 10th May, 2012 is continued until determination by the Court of Appeal of Mrs C's appeal.