NSW Supreme Court Justice Patricia Bergin today granted an application by HIH to put preparations for the case on hold for 90 days while the parties negotiate a settlement over the $500 million claim.
A settlement would mean Mr Turnbull, the former chairman of investment bank Goldman Sachs Australia, would avoid the unwanted attention of a protracted court case involving himself and eight other defendants and 118 cross-claims.
However, if the matter cannot be settled, the court will most likely hear from witnesses such as disgraced former HIH chief executive Ray Williams and former FAI chief Rodney Adler, who is also a defendant, in what would be the lead-up to the next election.
A settlement would mean Mr Turnbull, the former chairman of investment bank Goldman Sachs Australia, would avoid the unwanted attention of a protracted court case involving himself and eight other defendants and 118 cross-claims.
However, if the matter cannot be settled, the court will most likely hear from witnesses such as disgraced former HIH chief executive Ray Williams and former FAI chief Rodney Adler, who is also a defendant, in what would be the lead-up to the next election.
Is Turnbull willing to risk having to personally pay out a considerable sum in an out-of-court settlement in the hope of becoming Australian prime minister in 2010?
Is he that driven? That desperate?
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