21 Dec 2022
SRG GLOBAL REMEDIATION SERVICES (NZ) LIMITED v BODY CORPORATE 197281 [2022] NZCA 654
- Citation
- [2022] NZCA 654
- Court
- Court of Appeal
A limited conditional stay was appropriate: preserve status quo by protecting SRG from worsening credit risk while addressing Body Corporate's concern about access to funds if it becomes creditor; stay granted only if Body Corporate provides an irrevocable bond/guarantee from a reputable New Zealand financial institution for the certified judgment sum (excluding interest and costs) by 27 January 2023, otherwise stay lapses and SRG may execute, with directed retention or reciprocal security arrangements to protect the Body Corporate pending leave/appeal determinations.