Read the full judgment text of HCA 008347/2000 on BabelCite. This High Court CFI judgment was delivered on 27 October 2000.
1. The plaintiffs are mortgagees of various properties owned by the defendants. Since the end of 1996, the defendants had been in arrears in paying interest and were in serious financial difficulty by the end of 1998, owing the plaintiffs $144 million by way of interest and outstanding principal. On 15 March 2000, a bankruptcy order was made against the 3rd defendant. As a result of repeated oral and written demands from time to time made by the plaintiffs and as the defendants were unable to re
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