Bolton v WAM Active Ltd

In *Bolton v WAM Active Ltd*, the applicant, Mr Bolton, sought a stay of a court order pending his appeal. The dispute concerned the composition of the board of a listed company. The application was heard by Leeming JA in the Court of Appeal of New South Wales.

The primary legal issue before the court was whether the applicant had established a proper basis for a stay of the order, given that the appeal was scheduled to be heard within a short timeframe of 12 business days. This involved assessing the balance of convenience and the likelihood of irreparable harm to the applicant if the stay was not granted.

Leeming JA considered the applicant's undertaking to be personally liable for quantifiable costs associated with the administration of the company during the period of the stay, should the appeal be unsuccessful. The court also noted the ongoing payment obligations of Keybridge Capital Ltd. To provide security for these potential costs and obligations, the court ordered the applicant to pay $25,000 into court within seven days. The existing stay was continued until 4pm on 8 May 2025. The costs of the application were reserved to be costs in the appeal.