The Tank People Pty Ltd & Anor v Tech Treat Pty Ltd [1998] FCA 1769

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 1077 of 1998

BETWEEN: THE TANK PEOPLE PTY LTD

(ACN 008 578 372)

First Appellant

STEPHEN EWEN McEWEN

Second Appellant

AND: TECH TREAT PTY LTD

Respondent

JUDGE: EMMETT J

DATE OF ORDER: 16 DECEMBER 1998

WHERE MADE: SYDNEY

THE COURT NOTES THE FOLLOWING UNDERTAKINGS GIVEN TO THE COURT:

1. By the Second Appellant that, pending the appeal, he will not dispose of or otherwise alienate any of his assets otherwise than for the purposes of normal living expenses or pursuant to the orders made by the Family Court of Australia on 11 June 1998. 2. By Gordon Mar that, should the appellants be successful in the appeal and, as a result of any costs orders in favour of the appellants made by the Full Court, a net amount is payable to the appellants when the amount due under those costs orders is set off against the amount due under the compromise agreement for which the appellants contend, and the present respondent fails to pay such net amount, Mr Mar would assume personal liability to make good any shortfall up to but not exceeding the amount paid by the appellants pursuant to the orders below.

THE COURT ORDERS THAT:

3. If the appellants pay to the respondent the sum of $14,000 by 24 December 1998, orders (2), (3) and (4) made by Whitlam J on 21 September 1998 be stayed from the date of such payment until judgment is delivered on the appeal. 4. If thereafter the appellants fail to pay to the respondent the sum of $1,000 on the 18th day of each month until the final disposition of the appeal, the stay be dissolved. 5. The costs of the motion for a stay be the costs of the parties in the appeal. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.