365. Power to stay or restrain application or proceeding

At any time after the making of an application under paragraph (c) of subsection (2) of section 298 and pending determination of the application, the company or any creditor or contributory may, where an application or proceeding against the company or any of its property is pending in a court, apply to that court to stay or restrain the application or proceeding.

On an application under subsection (1), the court may stay or restrain the application or proceeding on such terms and conditions as may be necessary.