Super Vision Resources Ltd BVI Registered No 1810534 v AC Holdings Co Pty Ltd (No 3)

Super Vision Resources Ltd BVI Registered No 1810534 (the applicant) sought a stay of orders made by the Supreme Court of New South Wales, which directed payment of money to the trustee in bankruptcy of AC Holdings Co Pty Ltd (the first respondent) and its director, Mr. Anthony C. Chan (the second respondent). The stay was sought pending an application for special leave to appeal to the High Court of Australia. The trustee in bankruptcy had provided an undertaking not to distribute or deal with any funds paid to him.

The primary legal issues before the Court of Appeal were whether a stay of the Supreme Court's orders was necessary to preserve the subject matter of the intended appeal to the High Court, and whether the costs of the motion seeking the stay should be ordered as "costs in the cause in the High Court."

Meagher JA dismissed the motion, finding that the undertaking given by the trustee in bankruptcy was sufficient to preserve the subject matter of the appeal. The court reasoned that the undertaking effectively prevented the funds from being dissipated, thereby rendering a stay of the payment orders unnecessary. Consequently, the court also ordered that the costs of the motion should follow the event, meaning the unsuccessful party would bear the costs.

The first and second respondents' notice of motion filed on 4 March 2021 was dismissed with costs.