City Garden Australia Pty Ltd (subject to deed of company arrangement) as trustee for the Ming Tian City Garden Unit Trust v Gemi 130 Pty Ltd

[2024] NSWCA 139

NSW Court of Appeal

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Interrogate

Catchwords

1. Practice and Procedure
2. › Interlocutory injunctions
3. › Injunction pending appeal
4. › Restraining receiver and manager from distributing proceeds to secured lenders
5. › Whether serious question to be tried
6. › Whether balance of convenience favours grant of relief
7. › Whether undertaking as to damages required
8. › Uniform Civil Procedure Rules 2005 (NSW), r 25.8
1. Corporations
2. › Assumptions under Corporations Act
3. › Dealings with company
4. › Whether lenders entitled to rely on assumptions in ss 128 and 129
5. › Whether person 'knew or suspected' assumption was incorrect
6. › Corporations Act 2001 (Cth), ss 127(1)(b), 128, 129

Quick Take

A limited interim injunction may be granted to restrain receivers from distributing proceeds pending appeal even without an undertaking as to damages where the injunction is of short duration and causes no meaningful prejudice.