Toltz Pty Ltd v City Garden Australia Pty Ltd (in liq) (stay application) [2024] NSWCA 179

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Toltz Pty Ltd v City Garden Australia Pty Ltd (in liq) (stay application) [2024] NSWCA 179 Hearing dates: 26 July 2024 Date of orders: 26 July 2024 Decision date: 26 July 2024 Before: Kirk JA; Stern JA; Basten AJA Decision: (1) Grant the applicant (cross-appellant) leave to file in Court a notice of motion dated 25 July 2024. (2) Dismiss the notice of motion. (3) Order that the costs of the motion be costs in the cross-appeal. Catchwords: CIVIL PROCEDURE – appeal – interlocutory injunction – extension of order granted pending hearing of appeal – owner of property in default under loan agreement – receiver and manager appointed by lenders – proceeds of sales of secured property and rental income held by receiver and manager – application by owner to prohibit payment to lenders pending outcome of challenge to loan agreement Legislation Cited: Corporations Act 2001 (Cth), s 129 Cases Cited: City Garden Australia Pty Ltd (subject to deed of company arrangement) as trustee for the Ming Tian City Garden Unit Trust v Gemi 130 Pty Ltd [2024] NSWCA 139 Category: Procedural rulings Parties: City Garden Australia Pty Ltd (in liq) as trustee for Ming Tian City Garden Unit Trust (Respondent / Cross-Appellant) Gemi 130 Pty Ltd (Third Cross-Respondent) Bridge Street Capital No 2 Pty Ltd (Fourth Cross-Respondent) Sam Kaso (Respondent on motion) Representation: Counsel: P Clarke/F Lim (Respondent) F Lim (Cross-Appellant/Applicant on motion) H Somerville/M McGirr (Third Cross-Respondent) M Young SC (Fourth Cross-Respondent) G Gee (Respondent on motion)