Financial Intelligence Unit v Cyber Space Limited (Miscellaneous Application No. 143 of 2012) [2012] SCSC 33 (22 October 2012)
The balance of convenience does not favour granting a stay, as the respondent has already been denied access to its funds for longer than the statutory period, and is subject to the court’s jurisdiction, so the applicant can enforce any future order if successful on appeal.
- Citation
- [2012] SCSC 33
- Parties
- Applicant: Financial Intelligence Unit; Respondent: Cyber Space Limited
- Court
- Supreme Court
- Jurisdiction
- Seychelles
- Judgment Date
- 22 October 2012
- Case Number
- Miscellaneous Application No. 143 of 2012
- Procedural Posture
- Miscellaneous Application / Ruling on Application for Stay of Execution
- Outcome
- Application dismissed with costs
- Legal Topics
- Stay of Execution, Freezing Orders, Jurisdiction, Appeal Procedure
- Source Language
- English
Case Brief
Summary, issues, holding and outcome
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Parties
Financial Intelligence Unit
Applicant
Cyber Space Limited
Respondent
Procedural Posture
Miscellaneous Application / Ruling on Application for Stay of Execution
Legal Issues
- 1 Whether a stay of execution should be granted pending appeal against an order to defreeze the respondent’s bank account
Ratio Decidendi
The balance of convenience does not favour granting a stay, as the respondent has already been denied access to its funds for longer than the statutory period, and is subject to the court’s jurisdiction, so the applicant can enforce any future order if successful on appeal.
Court Disposition
Application dismissed with costs
Orders
- Application for stay of execution is dismissed
- Applicant to pay costs
Full Case Text
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