THE parent company of Gloria Jeans Coffee, co-owned by the Hillsong Church elder Nabi Saleh, is in financial dire straits and should be put into liquidation and an investigation held into its affairs, the NSW Supreme Court has been told.
It is the latest shot fired in the multimillion-dollar lawsuit against the coffee giants parent company, Jireh International, by a small US-based coffee supplier, Western Export Services.
On June 11, the court ruled that Jireh must pay the export company millions in commissions and interest after it found Jireh had breached a joint venture agreement. Yesterday the parties were back in court, fighting over the formula used to calculate the total owed to Western Export Services.
Both parties were required to submit evidence to the court on their financial circumstances. The defendant is hopelessly insolvent, said Jim Johnson, counsel for Western Export Services. There are public policy issues as to whether this company should be allowed to keep trading.