In the Matter of VMF Holdings Pty Ltd (Subject to Deed of Company Arrangement) Fong, Victor & Anor v Hamilton, William James & Anor as administrators of VMF Holdings Pty Ltd (Subject to Deed of Company Arrangement) [1998] FCA 1078

FEDERAL COURT OF AUSTRALIA

CORPORATIONS LAW – application for "review" of Registrar's orders – order for public examinations – allegation that examination would constitute an abuse of process –mere possibility of gaining a forensic advantage in related proceedings not sufficient to demonstrate improper purpose –utility of examinations to creditors' interests – jurisdiction assumed – relevance of ss 447A and 447E Corporations Law Corporations Law, s 447A, 447E, 596A, 596B

IN THE MATTER OF VMF HOLDINGS PTY LTD (SUBJECT TO DEED OF COMPANY ARRANGEMENT)

NG 3280 of 1997 MADGWICK J SYDNEY 3 SEPTEMBER 1998

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 3280 of 1997

IN THE MATTER OF VMF HOLDINGS PTY LTD (SUBJECT TO DEED OF COMPANY ARRANGEMENT) aCn 061 983 971

BETWEEN: Victor Fong

First Applicant

VMF Holdings Pty Ltd (Subject to Deed of Company Arrangement)

Second Applicant

AND: William James Hamilton and Pino Fiorentino in their capacity as joint deed administrators of VMF Holdings Pty Ltd (subject to deed of company arrangement)

RespondentS

JUDGE(S): MADGWICK

DATE OF ORDER: 3 SEPTEMBER 1998

WHERE MADE: SYDNEY

SHORT MINUTES OF ORDERS

BY CONSENT, THE COURT ORDERS THAT:

1. Order 13 of the Orders made by the Registrar on 13 April 1998 be amended to read: "Subject to any further order of the Court, the Administrators of the Deed of Company Arrangement executed by the Company be paid or retained out of the property of the company under their control pursuant to the Deed of Company Arrangement, their costs of this application and the examination."

THE COURT FURTHER ORDERS THAT: 2. The Notice of Motion is dismissed.

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 3280 of 1997