Stay on execution of judgment granted in order to prevent damage to company and employees

Whether judgment entered jointly and severally against second and third respondents should be stayed as to execution and registration - judgment entered in the sum of US$683,922.31 on 15th October, 2014 - petitioner is judgment creditor - creditor who has obtained judgment has strong prima faciae right to immediately execute on foot of it - judgment entered pursuant to settlement agreement of October 2012, in which respondents undertook to purchase petitioner's shares worth $11m - respondents seeks stay until 31 December, 2014 and and liberty for further extension - respondents advance three reasons for stay: (i) refusal of stay will jeopardise sale of petitioner's shares on open market; (ii) Danske Bank may call in company's overdraft facility, thereby undermining the company's ability to trade and raise funds elsewhere and; (iii) 3,000 jobs will be put at risk - petitioner says claim of threat to company not credible - Court notes that respondents find themselves in breach of time limits which are self selected - Court finds that if stay not granted to respondents, great damage to company could result - Court notes undertaking under oath on part of respondents not to sell own shares - accordingly, Court finds that balance of justice favours a brief stay until 31 December - Court refuses to grant liberty to apply to extend stay after this period elapses.