IBM Global Financing Australia Limited v Millennium Hardware (Australia) Pty Ltd [2000] FCA 1107

FEDERAL COURT OF AUSTRALIA

IBM Global Financing Australia Limited v Millennium Hardware (Australia) Pty Ltd [2000] FCA 1107

IBM GLOBAL FINANCING AUSTRALIA LIMITED v MILLENNIUM HARDWARE (AUSTRALIA) PTY LTD & ANOR N 838 OF 1999 HELY J 31 JULY 2000 SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N 838 OF 1999

BETWEEN: IBM GLOBAL FINANCING AUSTRALIA LIMITED

APPLICANT

AND: MILLENNIUM HARDWARE (AUSTRALIA) PTY LTD

FIRST RESPONDENT

MICHAEL JOHN HENDERSON

SECOND RESPONDENT

JUDGE: HELY J

DATE OF ORDER: 31 JULY 2000

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. Judgment be entered pursuant to Order 10 rule 7(1)(b) against the first and second respondents in the sum of $838,039.32, with interest continuing to accrue at the rate of $229.59 per day from the date of judgment. 2. The respondents pay the applicant's costs of these proceedings. 3. Upon the applicant, by its counsel, giving the usual undertaking as to damages, that (a) the asset preservation made against the first respondent by Order 2 of the orders made on 25 August and 26 August 1999 be continued for six months from the date of this order; and (b) the asset preservation order made against the second respondent by Order 3 made on 3 September 1999, be continued for a period of six months from the date of this order, on condition that, should the first respondent go into liquidation or the second respondent become bankrupt within that period, the orders are subject to the rights of creditors in their capacity as judgment debtors under an insolvent administration of the affairs of either of the respondents. 4. Liberty to apply be reserved to the first and second respondents in the event of liquidation or bankruptcy, to apply for a modification or discharge of the asset preservation orders. 5. Liberty to apply be reserved to the applicant both generally and in relation to the enforcement of the orders made so far. 6. This order be served on the first and second respondent. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.