10th October 2013

TELECONFERENCE TERRITORY OF THE VIRGIN ISLANDS Thursday, 10th October 2013 APPLICATION AND APPEAL Case Name:

[1]Maruti Holdings Pte Limited v [1] Sinclair Strategies Limited

[2]Mick Cahill

[3]Peter Moltoni [BVIHCMVAP2013/0015] (Territory of the Virgin Islands) Before: The Hon. Mr. Davidson Kelvin Baptiste, Justice of Appeal Appearances: Applicant: Mr. Brian Lacy Respondent: Mr. Oliver Clifton for the first and third respondents Mr. Richard Brown for second respondent Issues: Application for leave to appeal – Application for stay of execution Result / Order: [Oral delivery] 1. The applicant does have permission to appeal to the Court of Appeal from the order of Mr. Justice Bannister, QC [Ag.] dated 17th July 2013. 2. The applicant be entitled to file its notice of appeal upon, but not before: (a) the payment to the respondents of the costs due to them pursuant to paragraph 3 of the order; and (b) the payment to the respondents of the costs due to them pursuant to paragraph 4 of the order, as assessed or agreed between the parties. 3. Costs of the leave application are costs in the appeal. 4. The costs of the stay application: (a) of the second respondent are to be paid by the applicant and are summarily assessed in the sum of $1,500.00; (b) of the first and third respondents are to be paid by the applicant in a sum to be assessed if not agreed. 5. Liberty to apply. Reason: The applicant satisfied the threshold requirements for the grant of leave to appeal.