13 Oct 2008
THE COMMISSIONER OF INLAND REVENUE V CHESTERFIELDS PRESCHOOLS LIMITED AND ORS CA CA607/2008
- Citation
- openlaw-b3f74f90_282c_4681_a05b_ce5f39bb72fd.pdf
- Court
- Court of Appeal
Because the respondents failed to provide the undertakings sought to ensure the loan proceeds would be applied only to authorised purposes, and because allowing drawdown posed a real risk of rendering the appellant's right of appeal nugatory, the Court granted a stay of execution of the High Court order pending resolution of the appeal to preserve the efficacy of the appellate process.