NSW Caselaw
RYDE JOINERY PTY LTD (ADMINISTRATOR APPOINTED) v ZISTI
SUPREME COURT OF NEW SOUTH WALES COURT OF APPEAL
BEAZLEY JA 22 July 1996, 22 July 1996
[1996] NSWCA 461
Beazley JA This is a notice of motion for a stay pending the hearing of an appeal and also for expedition of the appeal. Expedition is neither consented to nor opposed. However, the application for a stay is opposed.
Counsel for the opponents conceded at the outset of the hearing of the notice of motion that the claimants have an arguable case on the appeal but submits correctly that that of itself is not sufficient for the Court to grant a stay.
The application for a stay has to be considered in light of the fact that the claimants do not offer, and as I understand their position, oppose any order imposing the giving of security as a condition of the stay.
The second and third claimants, referred to as the second and third appellants in the notice of motion, are the principals of a joinery business, Ryde Joinery Pty Ltd (Administrator Appointed), which is the name of the first appellant on the notice of motion and is a party to the appeal. It is not strictly a party to this notice of motion, save in respect of the application for expedition.
Ryde Joinery Pty Ltd has been in operation for over 20 years. It currently employs about 28 full time employees and the second and third claimants are themselves employed in the business. As I understand the evidence, their salaries from that business are their only source of income.
The family home of the second and third claimants is subject to a contract of sale at a price of $1.307 million. According to the terms of the contract, settlement is to be on 6 September 1996.
In para3 of his affidavit sworn 19 July 1996 the second claimant has specified the manner in which he proposes to deal with the proceeds of sale of that home. The usual expenses of sale, including agent's fees and solicitor's costs, will need to be deducted.
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