In the matter of K. and A. Laird (N.S.W.) Pty Ltd (in liq) — K. and A. Laird (N.S.W.) Pty Ltd (in liq) v Aidzan Pty Ltd (in liq)

K. and A. Laird (N.S.W.) Pty Ltd, a company in liquidation, sought an order preserving the company's fund that is the subject of the proceedings. The application was made against Aidzan Pty Ltd, a company also in liquidation. The dispute between the two companies related to the distribution of funds held by the liquidator of K. and A. Laird. The application was heard in the Supreme Court of New South Wales, Equity Division. The court was required to decide whether it should make an order under the Uniform Civil Procedure Rules 2005 (NSW) rule 25.3(3) to preserve the fund from being depleted by payments of the defendant's legal costs and other payments.

The court considered the relevant legal principles and authorities, including the case of Re Dawson; Ex parte Bankstown Football Club Ltd. The court held that the application was made in good faith and that there was a real and substantial risk that the fund would be dissipated if it did not make an order. The court also noted that the applicant had established that the fund was being depleted by payments of the defendant's legal costs and other payments. The court found that there was no question of principle that would prevent it from making the order sought.

The court made an order preserving the fund that is the subject of the proceedings. The order provided that the defendant would not make any payments from the fund that is the subject of the proceedings, except for payments to the liquidator, until further order. The court also ordered that the defendant pay the applicant's costs of the application on an indemnity basis. The order was made to ensure that the fund was preserved for the benefit of the creditors of K. and A. Laird.