(iv) Mahkamah Persekutuan di dalam kes Kosma Palm Oil Mill Sdn. Bhd. & Ors v Koperasi Serbausaha Makmur Bhd [2004] 1 MLJ 257 telah memutuskan antara lain seperti yang berikut: [1] There are many factors that may constitute special circumstances and the fact that an appeal would be rendered nugatory if stay was refused is the most common one; it is an example of special circumstances. As nugatoriness is a species of special circumstances, a mere reference to it is sufficient to convey the correct legal impression, and any attempt to restrict the grant of stay to nugatoriness, quite apart from its impropriety, will severely restrict the grounds Page 8 of 14 upon which an applicant may rely. Therefore, the applicants were wrong in submitting that the nugatory approach was not a matter for consideration in this case that only the special circumstances approach was relevant. They would have been correct if they had said that they were not relying on nugatoriness. …. [3] Secondly, the applicants went to great lengths to highlights the losses they would suffer and the inconvenience they would incur if the operation of the consequential order obtained by the respondents were not stayed. This line of reasoning militated against the rationale that a stay is grated only for reasons that relate to the enforcement of the judgment; it is not to give the unsuccessful party time to satisfy the judgment or to alleviate its problems. The applicants ought to have focused on the inability of the respondents, if at all, to reinstate them to their original position should they be successful in the appeal. They failed to do as much. On the contrary, since the estate lands were worth a considerable sum of money, it was assumed that the losses suffered by the applicants, being quantifiable, could be recovered from the respondents should they lose in the appeal. Page 9 of 14 [8] Augustine Paul, HMR (pada ketika itu) di dalam Kosmo Palm Oil Mill Sdn. Bhd. di muka surat 16 perenggan F telah menyatakan berikut: ……“The merits of a party’s case in a stay application is not a relevant matter for consideration. In this regard Lord Denning MR said in TC Trustees Ltd. v JS Darwen [1969] 2 QB 295 at p. 302: “In this very case the defendants, in their affidavit under RSC Ord 14 did raise a plea for equitable relief. But it was overrules and judgment given against the defendants. It is not permissible to renew it again on an application for a stay of execution… It is true that the courts have an inherent jurisdiction to stay proceedings, but only on grounds which are relevant to a stay. It does not extend to grounds which are properly matters of defence of law or relief in equity, for those must be raised in the action itself. Mr Lipfriend raised a further point. He said that under RSC Ord 47 r. 1, there is power in the case of a writ of fi fa, or elegit, to stay proceedings if there a special circumstances which render it inexpedient to enforce the judgment or in case the applicant is unable from any cause to pay the money. I think that is appropriate here. The circumstances there again are circumstances which go to the enforcement of the judgment: and not those which go to its validity or correctness. Page 10 of 14 D. ANALISA DAN KEPUTUSAN MAHKAMAH [9] Adalah menjadi dapatan Mahkamah ini bahawa alasan (i) yang dibangkitkan oleh Defendan bahawa permohonan untuk mendapatkan sanksi pihak Jabatan Insolvensi Malaysia (JIM) akan memakan masa yang lama dan risiko kemungkinan sanksi tidak dibenarkan adalah satu alasan yang tidak disokong oleh mana-mana keterangan dan adalah merupakan sesuatu yang bersifat “presumptive”. Alasan ini bukanlah suatu keadaan istimewa yang membolehkan Mahkamah ini untuk menggunakan kuasa budi bicaranya untuk membenarkan permohonan Defendan untuk penggantungan perlaksanaan Penghakiman Ingkar yang telah diperolehi oleh Plaintif. [10] Berhubung dengan alasan (ii) di mana Defendan membangkitkan bahawa kerosakan reputasi Defendan sebagai seorang ahli perniagaan dan reputasi perniagaannya tidak boleh dipampas dengan segi kos ataupun kewangan dan dikembalikan ke kedudukan asal atas status bankrap. Mahkamah ini berpandangan alasan ini bukanlah keadaan istimewa yang membolehkan Mahkamah ini untuk menggunakan kuasa budi bicaranya bagi membenarkan permohonan Page 11 of 14 Defendan untuk penggantungan perlaksanaan Penghakiman Ingkar yang telah diperolehi oleh Plaintif. [11] Begitu juga dengan alasan (iii) Defendan yang mana Defendan menimbulkan bahawa memandangkan Plaintif adalah sebuah syarikat Taiwan yang mana tidak mempunyai sebarang perjanjian dengan Malaysia bagi perlaksanaan penghakiman yang didapati di Malaysia, maka Defendan tidak akan dapat menuntut kembali bayaran balik atau memperoleh pampasan daripada syarikat Taiwan sekiranya rayuan Defendan dibenarkan. Untuk alasan ini, peguam Defendan telah cuba bergantung kepada keputusan Dillon LJ di dalam Rosengrens Ltd v. Safe Deposit Centres Ltd (unreported, 19 July 1984, CA, Lexis Nexis. [12] Namun, Mahkamah ini berpandangan bahawa keputusan Rosengrens Ltd tidak boleh terpakai kepada kes di hadapan Mahkamah ini atas alasan-alasan berikut: Page 12 of 14