Acting Supreme Court judge Glen Brown has granted a stay of execution of a default judgment for US$500,000, which was entered against Noel Strachan, owner and director of investment club World Wise Partners Ltd.

Businessman Hurshel Cyrus had obtained the default judgment in June against Strachan arising from money he had allegedly invested in World Wise.

Cyrus is contending that he invested US$280,000 in World Wise. With interest, the amount totalled US$500,000.

A defence was not filed in response to the suit, which was filed in the Supreme Court last year.

Attorney-at-law Christopher Townsend, who is representing Strachan, argued last Friday that Strachan had not been served with the claim form. Townsend said Strachan was challenging the suit and was seeking to have the default judgment set aside.

Justice Brown, in granting the stay, ordered that no step be taken to execute the default judgment until Strachan's application has been heard.

Strachan's application to set aside the default judgment has been set for hearing on September 18 in the Supreme Court. Strachan is contending that he was out of the island at the time of the alleged service.