Lofthouse, in the matter of Riverside Nursing Care Pty Ltd (subject to deed of company arrangement) [2004] FCA 93

FEDERAL COURT OF AUSTRALIA

Lofthouse, in the matter of Riverside Nursing Care Pty Ltd (subject to deed of company arrangement) [2004] FCA 93 CORPORATIONS – deed of company arrangement – application for directions – nature of application – construction of deed – establishment of trust fund – costs of litigation ordered against company in administration and under a deed of company arrangement – whether payable out of trust fund

Companies Act 1862 (UK)25 & 26 Vic, c 89, ss 110, 144 Law of Property and Trustee Relief Amendment Act 1859 (UK) 22 & 23 Vict, c 35 s 30 Corporations Act 2001 (Cth) ss 447D(2), 556 Companies (Winding Up) Rules 1903 (UK) Companies (Winding Up) Rules 1890 (UK)

Ansett Australia Ltd, Re (2001) 39 ACSR 355 cited Bank of Hindustan, China and Japan, In re; Ex parte Joseph Mackrill Smith (1867) 3 Ch Apps 125 applied Blackbird Pies (Management) Pty Ltd (No 2), Re (1970) QWN 33 cited Dominion of Canada Plumbago Company, In re (1884) 27 Ch Div 33 applied Editions Tom Thompson Pty Ltd v Pilley (1997) 77 FCR 141 doubted Fused Electrics Pty Ltd v Donald (1995) 13 ACLC 432 applied G B Nathan & Co Pty Ltd, Re (in liq) (1991) 24 NSWLR 674 cited Home Investment Society, In re (1880) 14 Ch Div 167 applied Jeffcott Holdings Ltd (in liq) v Young (1995) 16 ACSR 33 applied London Drapery Stores, In re [1898] 2 Ch 684 applied London Metallurgical Company, In re [1895] 1 Ch 758 applied Lorenz's Settlement, Re (1861) 62 ER 433 cited Madrid Bank v Pelly (1869) 7 Eq 442 applied McCluskey v Pasminco Ltd (2002) 120 FCR 326; 41 ACSR 256 not followed in part Murdoch v Crawford [1986] VR 97 cited Pacific Coast Syndicate Ltd, In re [1913] 2 Ch 26 applied Security Provident Fund Ltd (in liq), Re; Rodger v Gourlay (1984) 73 FLR 264; 9 ACLR 56 referred to Tooth's Trusts, In re (1877) 5 QSCR 10 referred to Toshoku Finance UK plc, In re [2002] 1 WLR 671 referred to Trent and Humber Ship-Building Company, In re (Bailey and Leetham's case) (1869) 8 Eq 94 applied Wenborn & Co, In re [1905] 1 Ch 413 applied