Toll concessionaire Metramac Corp Sdn Bhd - ordered to pay RM65 million in compensation to Fawziah Holdings Sdn Bhd - was today given a reprieve after the Court of Appeal granted its application for a stay of execution.

The court allowed a stay on the execution and the enforcement of the order pending the disposal of the company's appeal to the Federal Court, which has been set for hearing on March 6 and 7.

"After considering the arguments closely, we are unanimous that a stay should be granted. But we are also in total agreement that the stay should be on certain terms and conditions," said Justice Gopal Sri Ram, sitting with Justices Hashim Yusoff and Zulkefli Ahmad Makinuddin.

The additional terms were enforced to protect the interests of Fawziah Holdings in the event that it succeeds at the Federal Court.

The terms and conditions of the stay order - which was read out by Justice Zulkefli - compelled Metramac to, among others:

- set aside a sum of RM50 million in a joint account with Fawziah Holdings within a month or by 4pm on March 31; and

- to forward an affidavit by one of its directors to disclose detailed information of all its assets including the nature, movements and status.

The court also dissolved its order dated Oct 25, 2005 - which preventing Metramac and their agents from disposing of the company's assets up to RM100 million - stating that the stay order issued today would render the earlier ruling "academic".

Onerous conditions

Metramac's lawyer Muhammad Shafee Abdullah informed the court that he was instructed to file a leave to appeal against the conditions of the stay order which he said were "too onerous" against his client.

"We are hoping that the court will stay the conditions as we will be appealing against these."

Lawyer Dr Cyrus Das who acted for Fawziah Holdings objected to the application stating that such request was "highly unusual".

Agreeing with Cyrus, the court subsequently dismissed Shafee's request.

On Jan 12, the court had ordered Metramac - the concessionaire of the East-West Link Expressway and the Sungai Besi Expressway - to pay RM65 million to Fawziah Holdings for loss of advertising rights.

The case attracted public attention when Gopal - in his judgment - accused tycoon Halim Saad and his former business partner Anuar Othman of siphoning RM32.5 million from Metramac under the patronage of former finance minister Daim Zainuddin.

Halim and Daim have since denied the allegations.

The publicity rose to greater heights on Jan 26 when Shafee was reprimanded over letters he had sent to Court of Appeal president Abdul Malek Ahmad and Chief Justice Ahmad Fairuz Sheikh Ab Halim, alleging Gopal had committed judicial misconduct in the course of the appeal between Metramac and Fawziah Holdings.

The inquiry against Shafee will be heard tomorrow before Gopal, Hashim and Zulkefli .