The future of the Hamiltonian Hotel and Island Club Ltd. could be decided as soon as next month after a court hearing concerning the case was adjourned to December 18.

In a Supreme Court hearing in August, owners of the Pembroke resort were given three weeks by Judge Ian Kawaley to make headway with efforts to raise the money to pay off its mounting debts.

The Ministry of Finance had applied to appoint the Official Receiver as provisional liquidator of the Hamiltonian, arguing that it owes more than $1.4 million in unpaid taxes.

But on Friday in Supreme Court, Robin Mayor, representing the Ministry of Finance, announced an agreement had been reached over the funding following several adjournments and proposals being put forward to address the issue, but the logistics of the payment still needed to be sorted out, with leave of appeal being sought to withdraw the winding-up order on or before the next court appearance.

Back in August, Judge Kawaley agreed to adjourn the case in the light of attempts to save the business against the backdrop of a dispute over who is its rightful owner.

US national Stephan McGee, one of the parties claiming ownership of the business, was granted power of attorney over the estate of former owner Harold Stavisky, who died in December 2004.

In his will, Mr. Stavisky bequeathed the Hamiltonian to his son Matthew Lawrence Stavisky, who had given Mr. McGee power of attorney.

However the management of the Hamiltonian, headed by Douglas Burgess and Margaret Abbadi, is also claiming ownership of the company.

The Hamiltonian's financial problems go back a number of years. A report by Auditor General Larry Dennis in 2003/04 revealed that the Hamiltonian was $918,667 in arrears on pension contributions and former Bermuda Industrial Union president Derrick Burgess claimed the property had not made any social insurance contributions in 20 years.

In 2006, Mr. Dennis described the Hamiltonian as "an atrocious corporate citizen", when it topped his 'name and shame' list of delinquent taxpayers.

The Debt Enforcement Unit, of the Attorney General's Chambers, sued the Hamiltonian in 2006 over the failure to pay more than $1 million in seven different Government taxes.

The resort, which is located on top of Langton Hill in Pembroke, rents out apartments with swimming pool and tennis court facilities.