An applicant for a stay of monetary orders pending appeal on the basis that corporate appellants may be wound up must adduce sufficient evidence of the corporations' financial position and demonstrate that the chain of contingencies leading to the appeal being rendered nugatory is sufficiently likely to occur. The mere assertion that corporations lack assets to pay is insufficient. The decision in Kalifair Pty Ltd v Digi-Tech (Australia) Ltd should be treated with caution, particularly its assumption that winding up automatically stays proceedings brought by a company, which does not reflect the position under the Corporations Act 2001 (Cth).
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