In the matter of Auzhair Supplies Pty Ltd (In Liquidation) ACN 085 159 280 (No 3) [2013] NSWSC 561

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Auzhair Supplies Pty Ltd (In Liquidation) ACN 085 159 280 (No 3) [2013] NSWSC 561 Hearing dates: Thursday 11 April 2013 Decision date: 11 April 2013 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Upon the defendants giving the usual undertaking as to damages and upon execution by the defendants of a fixed and floating charge over all of their assets and undertaking, and upon the defendants filing an affidavit setting out in full their assets including particulars of their location and an estimate of their value and liabilities in a form acceptable to the plaintiff as security for the judgment debt and costs, execution of the judgment given by this Court against the second, third and fourth defendants on 4 March 2013 be stayed until the hearing of the appeal Catchwords: PRACTICE & PROCEDURE - Application for stay of execution of judgment pending determination of appeal - where seriously arguable ground of appeal - where bankruptcy proceedings are on foot against defendants - where defendants have not made proper disclosure of their financial position - whether refusing stay would be oppressive or cause hardship - stay granted upon defendants giving appropriate securities to plaintiff Category: Consequential orders Parties: Auzhair Supplies Pty Ltd (in liquidation) ACN 085 159 280 (plaintiff) Auzhair 1 Pty Ltd (ACN 105 126 869) (first defendant) Mr Roy Gerace (second defendant) Mr Ilario Gerace (third defendant) Mr Domenico Gerace (fourth defendant) Representation: Counsel: Mr JT Johnson (plaintiff) Mr D Ash (defendants) Solicitors: Carroll & O'Dea (plaintiff) Sachs Gerace Lawyers (defendants) File Number(s): 2012/ 80701