Read the full judgment text of HCA 006152/1990 on BabelCite. This High Court CFI judgment was delivered on 29 April 1997.
1. The Plaintiff commenced these proceedings against the Defendants as guarantors for the debts of Engstrong Limited ("Engstrong"), to the extent of $166 million plus interest. At all material times, the 1st and 2nd Defendants were in partnership with Engstrong in a textile business trading under the name of Texxon & Co. ("Texxon"). The 1st and 2nd Defendants jointly owned a two-third interest in the partnership, whilst Engstrong owned the remaining one-third interest through a shell company, th