Severstal Export GmbH v Bhushan Steel Limited [2011] NSWSC 1063

Supreme Court New South Wales

Medium Neutral Citation: Severstal Export GmbH v Bhushan Steel Limited [2011] NSWSC 1063 Hearing dates: 26/06/2011; 30/06/2011; 01/07/2011 Decision date: 12 September 2011 Before: Simpson J Decision: Notice of motion dismissed with costs Catchwords: PROCEDURE - judgments and orders - application for stay of registered foreign judgment - parties involved in separate proceedings brought by judgment debtor - limited commonality between proceedings - judgment creditor entitled to select jurisdiction for registration and enforcement - offer of bank guarantee pending judgment in separate proceedings - extent of further delay - order for stay refused

PROCEDURE - judgments and orders - application to set aside or vary freezing order - claim that proposed share purchase agreement intended to diminish asset value within jurisdiction in which foreign judgment has been registered - discharge of order inconsistent with refusal of stay - variation would result in depletion of assets below value of foreign judgment - orders refused Legislation Cited: Conveyancing Act 1919 Foreign Judgments Act 1991 (Cth) Uniform Civil Procedure Rules Cases Cited: Alexander v Cambridge Credit Corporation Limited (Receivers Appointed) (1985) 2 NSWLR 685 Category: Interlocutory applications Parties: Severstal Export GmbH (Plaintiff/Respondent) Bhushan Steel Limited (Defendant/Applicant) Representation: Counsel C Colquhoun (Plaintiff/Respondent) C S Ward (Defendant/Applicant) Solicitors Mallesons Stephen Jaques (Plaintiff/Respondent) Allens Arthur Robinson (Defendant/Applicant) File Number(s): 2011/58428