Grindlays Bank Ltd. v. Mackinnon Mackenzie Co. Ceylon Ltd. – sllr 1990 volume 1 page 019

In the case between Grindlays Bank Ltd (plaintiff) and Mackinnon Mackenzie Co. Ceylon Ltd (defendant), the court addressed whether execution of a decree pending appeal may be allowed when it is claimed that such execution would occasion “substantial loss.” It was held that execution pending appeal could proceed as the applicant failed to establish that substantial loss would result. The decision reaffirmed the principle that a party seeking to stay execution must demonstrate genuine and substantial risk of loss, emphasizing judicial discretion under sections 23, 754, 761, and 763 of the Civil Procedure Code and the Judicature Act. The judgment clarified that adequate security—in this instance, an enhanced bank guarantee—should serve to protect the parties’ interests, thus facilitating enfo