Further to our update of 13 October 2017, the Appellants (Sullivan and Swan) lodged applications for special leave to appeal to the High Court of Australia.
The Federal Court issued orders that their final ‘stays’ will remain in force until 14 days after the High Court determines the application for special leave, or if leave is granted, then 14 days after the determination of such appeal. The Federal Court’s orders are on the basis that the appellants will not dispose of, encumber or otherwise deal with their assets (or in the case of the third appellant, the estate assets).
It is not possible to accurately predict the timeframe within which the High Court will determine the special leave application; please refer to the update of 13 October 2017 for some comments on this.
We will keep you informed of progress.