Taglioli, J.A. v Commissioner of Taxation

JUDGMENT No. ..!?!?l ... 1.3-

IN THE FEDERAL COURT OF AUSTRALIA

)

GENERAL DIVISION

)	No. NP 945 of 1989

BANKRUPTCY DISTRICT O F THE

)

STATE OF NEW SOUTH WALES AND THE

)

AIJSTRAIJAN CAPITAL TERRITORY

)

BETWEEN JOHN A. TAGLIOLI
Debtor

EX PARTE: COMMISSIONER OF TAXATION

Petit~oning Creditor

Dav~es

Date:	3 July 1990
h:	Sydney

REASONS FOR JUDGMENT
EX TEMPORE

This is an application for the adjournment of a petition. Mr Taglioli has debts

of $70,000 or more, and apparently no realisable assets.

He has an Interest in a company named

Vis~on

MUSIC

Pty Limited which has certain copyrights or ~nanagerial

contracts which may be

valuable.

negotiations, and to the hopes for a spccdy rcsult

The petition has becn adjourned on a number of occasions. In his earlier

affidavits Mr Tagliol~

said that he was seeking to sell h ~ s

interest 111 Vision Music Pty Limited,

and had entered into negotiations. He was expecting to f~nalise	those negotidtioris in a short time.
Subscqucntly, he is looking again to sell copyrighls, or sell r~ghts,	or to generate income from his
contacts and business associations in the music world	Each of his

However, the last affidavit that has been Iiled shows no progress. It shows s~mply

that Mr Tagliol~	is still carrying on h ~ s	bus~ness	in the music world and he is still hoping to make
money.	The aff idav~t	from h ~ s	solicitor annexes two letters which say little of his funds or

circumstances, but one lettcr says:-

"I am currently in Canada ncgotiating with Polygram Records,
Warner Bros Records and Capitol Records, for a Canadian rclease.
I will be travell~ng to New York and Los Angclcs to hold talks with Polygram Records, A & M Records, Atlant~c Records, Geffcn Records and M C.A. Records, who are all ~ntercsted in

obta~ning rights in Vis~on Music.

I w ~ l l
also be talking to several Managcment and Publishing Companies during the Month of July."

Hc hopes to havc some result in four to six wceks.

Anothcr letter says:-

"I am currently ncgot~ating w ~ t h 7 Record and Publishing Compan~es on behalf of Polygram Records Austral~a and BB Steal.
We have a tentative offer of $150,000 U.SD. from
Warner/Chappcll".

Mr Taglioll hopes to have all payments by 30 September. The lctters do not progress the matter

at all They simply show that Mr Tagl~oli is carrying on his act~vities in thc music world. He does not sccm to have made any progress and having regard to the length of time that this

petltion has been on foot, I think that the proper course 1s now to refuse any further

adjournment
I ce r t~ fy	that this and the

preceding age are a true copy of the reasons for judgment of the Honourable Mr Justice Davics

Date.

3 July 1990

CaseChat Overview and Summary

The case of Taglioli, J.A. v Commissioner of Taxation concerns an application for the adjournment of a bankruptcy petition brought by the Commissioner of Taxation. The debtor, Mr Taglioli, has debts exceeding $70,000 and no apparent realisable assets, although he holds an interest in a company with valuable copyrights and managerial contracts. The central issue before the court was whether further adjournment of the petition should be granted, considering Mr Taglioli's ongoing efforts to sell his interest in Vision Music Pty Limited and generate income from his business associations in the music industry.

The court examined Mr Taglioli's affidavits and letters from his solicitor, which outlined his negotiations with various record and publishing companies. Despite these efforts, the court noted that there had been no significant progress towards resolving his debts. The letters provided little detail about Mr Taglioli's financial situation but indicated ongoing activities in the music industry with hopes for future income. The court ultimately determined that further adjournments were unwarranted due to the lack of tangible progress over an extended period.

In conclusion, the court refused to grant any further adjournment of the bankruptcy petition. The reasoning was based on the debtor's persistent failure to demonstrate meaningful progress in resolving his financial obligations, despite multiple opportunities to do so. The final order was to deny the application for adjournment, leaving the petitioner free to pursue the bankruptcy proceedings.

CaseChat Overview and Summary

Orders of the court

Background to the litigation

Evidence Before The Court

Reasons for decision

Legal Principle Established