Court Protects Bond Corp. From Action by U.S. Creditors

Alan Bond’s business empire won a round in its fight for survival today when a Western Australian court issued an injunction stopping U.S. creditors from liquidating Bond’s Australian breweries.

“It’s a victory,” said Bond Corp. Director Peter Lucas. “We need lots of victories, and time, and support.”

There is no sign of a speedy resolution to the morass of legal action surrounding Bond Corp., which is battling to survive debts of more than $4.7 billion.

The company has another case under way in the Victorian Supreme Court, where it is seeking to overturn the appointment of receivers for the breweries.

That case has been running since the beginning of January and is expected to be decided within the next few days, although lawyers say any appeal could delay a final resolution for weeks.