What are emergency applications (injunctions)?

Emergency applications (commonly called injunctions) are claims made by one party seeking to have another stopped from performing and act or taking steps on the basis that by doing so there will be irreparable damage which cannot be remedied by an award of costs in favour of the "victim". The party seeking to obtain the emergency order will need to establish that they have a sound claim "beyond the balance of probability" and undertake to pay any damages that are experienced by the other party if the claim is ultimately unsuccessful.

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What should I be aware of with liquidations and winding up a business?