Xu v Jinhong Design & Constructions Pty Limited [2010] NSWCA 231

New South Wales Court of Appeal

CITATION: Xu v Jinhong Design & Constructions Pty Limited [2010] NSWCA 231

HEARING DATE(S): 06/09/10

JUDGMENT DATE: 7 September 2010

JUDGMENT OF: McColl JA at 1

1. On each appellant undertaking to the Court that until further order or the disposal of the appeal he will not remove from Australia or in any way dispose of, deal with or diminish the value of any of his assets, whether or not the assets are in his name and whether they are solely or co-owned, and including any assets which he has the power, directly or indirectly, to dispose of or deal with as if they were his own save for:- (a) the payment of ordinary living expenses; (b) the payment of reasonable legal expenses; and (c) dealings and dispositions in the ordinary and proper course of the appellants' business affairs including paying business expenses bona fide and properly incurred, I stay the execution or enforcement of the judgment and orders entered by Justice Johnson in Supreme Court proceedings numbered 12073/07 on 10 June 2010 pending the hearing and determination of the appeal filed herein or pending further order. DECISION: 2. Order the appellants provide within 21 days the sum of $40,000 as security for the costs of this appeal by payment of the monies into court or, if the parties agree, into an interest bearing account in the joint names of the solicitors for the appellants and the respondent. 3. Order that if security is not provided in accordance with order 2, the appeal be stayed. 4. That the amount of AUD$35,000 which is currently held as security for costs in the Trust Account of Ren Zhou Lawyers Trust for the costs of the proceedings before the Supreme Court of New South Wales (file number 12073/07) be released to the respondent, Jinhong Design & Constructions Pty Limited. 5. Direct the respondent within 1 day to bring in short minutes of order embodying these orders and specifying the second mortgages and charges it seeks and the property over which those securities are sought, and that those securities are to be provided within 21 days of 8 September 2010. 6. Order the appellants to provide the securities referred to in order 5 and set out in the short minutes of order in a form satisfactory to the respondent within 21 days of the 8 September 2010. 7. Appellants to pay the costs of the stay and security for costs motions.