O'Brien v Australian Securities and Investments Commission

In *O'Brien v Australian Securities and Investments Commission*, the applicants, Geoffrey Frederick O’Brien, Michael John Gillfillan, and Martin Koffel, sought a stay of disqualification orders made against them pending their appeals. The proceedings were before the Court of Appeal of New South Wales, with Tobias JA presiding.

The primary legal issue before the Court was whether to grant the stay of the disqualification orders. This required the Court to consider whether the applicants had demonstrated a sufficient likelihood of success on appeal, or alternatively, whether the balance of convenience favoured granting the stay, particularly in light of the potential for significant and irreversible prejudice and damage to their reputations should the appeals succeed. The Court also considered whether granting a stay would effect a significant repair to any damaged reputation.

Tobias JA determined that the application for a stay was not an appropriate occasion for a detailed consideration of the merits of the appeals themselves. His Honour found that the applicants had not established that granting the stay would effect a significant repair to their damaged reputations, nor had they demonstrated that the failure to grant the stay would cause significant and irreversible prejudice and damage if their appeals were successful. Consequently, the Court dismissed the notices of motion filed by each of the applicants. The Court also ordered that the appeals of the applicants be expedited.