Bydand Holdings Pty Limited v Pineland Property Holdings Pty Limited [2009] NSWSC 1327

New South Wales Supreme Court

CITATION : Bydand Holdings Pty Limited v Pineland Property Holdings Pty Limited [2009] NSWSC 1327

HEARING DATE(S) : 27 November 2009 JUDGMENT OF : Hammerschlag J

EX TEMPORE JUDGMENT DATE : 27 November 2009

DECISION : Judgment of 10 November 2009 against Mr Pang be stayed up to and including 26 March 2010

CATCHWORDS : PROCEDURE - judgments and orders - in general – stay of judgment until appeal – applicant not in position to meet judgment debt – applicant is sole director of company trustee for family trust – applicant has 25% of the issue shares in the trustee and is one of three discretionary beneficiaries – net trust assets approximate $20,000,000 – trustee may decide to dispose of assets to assist applicant in payment of judgment debt – undertakings proffered by applicant to prosecute appeal expeditiously, not to sell or deal with applicant's own only real property asset – undertakings accepted – stay granted on condition that applicant makes payments corresponding to interest on judgment debt to judgment creditor on a regular basis – no issue of principle

CATEGORY : Procedural and other rulings

Bydand Holdings Pty Ltd (ACN 097 171 456) - Plaintiff PARTIES : Pineland Property Holdings Pty Ltd (ACN 099 857 735) - First Defendant Knight Frank Australia Pty Ltd (ABN 17 004 973 684) - Second Defendant Vincent Pang - Third Defendant

FILE NUMBER(S) : SC 50058/2008

COUNSEL : P.T. Russell [Plaintiff] C.J. Birch SC with A.S.G. Cassells [Third Defendant]

SOLICITORS : Barringer Leather Lawyers [Plaintiff] Maxim Legal Pty Ltd [Third Defendant]

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