In the matter of Frank Monte, Gianni Versace SpA v Monte

Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

REASONS FOR JUDGMENT 1 This is an application under s 33 of the Bankruptcy Act 1966 (Cth) to adjourn the hearing of a creditors' petition upon the ground that there is an appeal pending against the costs order in a judgment on which the petition is based. The appeal is discussed in the judgment given today in another matter between the same parties: Monte v Gianni Versace SpA [2003] FCA 956. The respondent accepts that, for the present application to succeed, the Court must be persuaded that that appeal against the costs order is based on genuine and arguable grounds. For the reasons given in that case, I do not consider that the grounds in the appeal generally are genuine and arguable. Conscious that I have not had full argument on those grounds and that some ingenious argument may conceivably succeed in the appeal in casting some doubt on something the trial judge said, I am confident that, having regard to the evident course of the trial, there is no prospect at all that the costs order will be disturbed on appeal. The application for an adjournment is accordingly refused. I certify that the preceding paragraph is a true copy of the Reasons for Judgment herein of the Honourable Justice Whitlam.

Associate: Dated: 10 September 2003 Counsel for the applicants: CRC Newlinds

Solicitors for the respondent: Horowitz & Bilinsky