Federal Court of Australia
JUDGMENT No. Bein, Jf GENERAL DISTRIBUTION
IN THE FEDERAL COURT OF AUSTRALIA _)
) NEW SOUTH WALES DISTRICT REGISTRY ) NG 47 of 1996
) GENERAL DIVISION )
BETWEEN: GOLDEN EDITIONS PTY LIMITED Applicant
AND: JOHN ROBERT HOITINK First Respondent
S BROWN Second Respondent
SUSAN ANDREWS Third Respondent
K DOVER Fourth Respondent
MICHAEL SPECK Fifth Respondent
SHARON McTAVISH Sixth Respondent
JUDGE(s):_ LOCKHART PLACE: SYDNEY DATED: 4 JUNE 1997
REASONS FOR JUDGMENT
This proceeding has been specially fixed for final hearing commencing today; and the Court acted on the basis of the information furnished to it by the legal advisers to the parties
that it would take two days. So the Court is in a position to deal with the matter for a
reasonable portion of today and all tomorrow.
However, a motion has been filed by leave of the Court this morning by the applicant, Golden Editions Pty Limited, seeking an order that the hearing dates of today and tomorrow
be vacated and the proceeding be stayed until further order.
The evidence in support of the motion consists of the evidence of the solicitor for the applicant, Mr Banki, who has sworn an affidavit in support of the motion and has given oral evidence. There are, as I understand it, two bases on which the applicant seeks to have the
proceedings either stayed or, in effect, indefinitely adjourned.
The first is that outlined in Mr Banki's affidavit, the nub of which is contained in paragraphs 20 and 21, namely, that it is said that the applicant is in poor financial condition. Based on the information given to him by Mr Hoghton Hughes, who is obviously the controller of the company, Mr Banki believes that the applicant's present intention is to trade out of its current financial difficulties and this would require time. Other proceedings which have been before the Court in the last two days involving the applicant, and which I have heard, and reserved my decision, have a critical bearing on the applicant's financial future, so it is said it would be unjust if the applicant did not have the opportunity to continue the
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