application for stay of distribution of trust assets pending determination of leave to appeal
where receivers consider that full amount of trust assets must be retained pending determination of leave to appeal
where applicants are not willing to give an undertaking as to damages concerning the consequences of the full amount being retained
Quick Take
1Where a stay would prevent distribution of the entirety of trust assets (not merely the amount in dispute), the applicant must offer an undertaking as to damages adequate to cover the full consequences of the stay, not merely the disputed sum.
2A court will not grant a stay where the applicant declines to give an undertaking as to damages commensurate with the actual practical consequences of the stay, even if the proposed appeal is assumed to have some prospect of success.
