Equuscorp Pty Ltd v Wilmoth, Field Warne (a firm)

[2006] VSCA 123

Victorian Court of Appeal

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Interrogate

Catchwords

1. Practice and Procedure
2. › Injunctions
3. › Interlocutory injunctions
4. › Injunction pending appeal and cross-appeal
5. › Fund held in joint bank account as security
6. › Whether dissipation of fund would render cross-appeal nugatory
1. Practice and Procedure
2. › Stay of execution
3. › Stay pending appeal
4. › Fund constituting security in broad sense
5. › Analogy with payment into court
6. › Whether deprivation of security sufficient basis for relief
1. Practice and Procedure
2. › Costs
3. › Costs of application for stay or injunction pending appeal
4. › Whether costs should be reserved or awarded to respondent

Quick Take

A fund deposited into a joint bank account pursuant to an agreement to hold moneys pending resolution of a dispute constitutes security in a broad sense analogous to a payment into court, and deprivation of that security is a sufficient basis for injunctive relief pending appeal where the opposing party's financial capacity to satisfy a judgment is uncertain. The conventional rule that costs of a stay application should be awarded against the applicant was questioned but not departed from.