Pasminco Limited (Subject to Deed of Company Arrangement) (No 2) [2004] FCA 656

FEDERAL COURT OF AUSTRALIA Pasminco Limited (Subject to Deed of Company Arrangement) (No 2) [2004] FCA 656 CORPORATIONS – deed of company arrangement – administrator's discretion – directions sought by administrator – whether administrator can surrender discretion to court PRACTICE AND PROCEDURE – deed of company arrangement – variation by court order – whether creditors need to be joined

Corporations Act 2001 (Cth) ss 447A, 447D Law of Property and Trustees Relief Amendment Act 1859 (UK) s 30

Allen-Meyrick's Will Trusts, In re; Magnall v Allen-Meyrick [1966] 1 WLR 499 referred to Ansett Australia Ltd (No 3), Re; (2002)115 FCR 409 discussed Attorney-General at relation of Bishop of London v College of William and Mary in Virginia 1 Ves Jun 243 [30 ER 323] applied Boukydis, Re; [1927] 3 DLR 558 cited Brown, Re; (1929) 35 OWN 335 cited Burger Estate, In re; [1949] 1 WWR 280 referred to Charlotte F. Gisborne v Walter Joseph Gisborne (1872) 2 App Cas 300 cited Collins, Re; [1927] 4 DLR 770 cited Cotterell v Stratton (1872) LR 8 Ch App 295 applied Deputy Commissioner of Taxation v Best & Less (Wollongong) Pty Ltd (rec & mgr apptd) (1992) 7 ACSR 245 cited Editions Tom Thompson Pty Limited v Pilley (1997) 77 FCR 141 followed Earl D. Cramer, Deceased, In the Matter of the Estate of v Surrogate's Court of New York, Onondaga County 256 NYS 2d 903 (1965) referred to Ford v The Earl of Chesterfield (No.3) 21 Bev 426 [52 ER 924] applied G B Nathan and Co Pty Ltd (in liq), Re; (1991) 24 NSWLR 674 followed Giga Investments Pty Ltd (Admin Apptd), Re (No 2) (1995) 13 ACLC 1,185 followed in part Hare v Rose 2 Ves Sen 558 [28 ER 355] applied Hicks v Wrench 6 Madd 93 [56 ER 1026] applied House of Spring Gardens Ltd v Waite [1991] 1 QB 241 cited John Gilchrist; In the matter of the Trust of the Will of (1867) 6 SCR (NSW) Eq 74 cited Jones, In re; Christmas v Jones [1897] 2 Ch 190 applied Lart, In re; Wilkinson v Blades [1896] 2 Ch 788 cited Marley v Mutual Security Merchant Bank and Trust Co Ltd [1991] 3 All ER 198 discussed Midland Land and Investment Corporation, In re; [1887] WN 58 cited Milankov Nominees Pty Ltd v Roycol Ltd (1994) 52 FCR 378 cited MTI Trading Systems Ltd v Winter [1998] BCC 591 cited Mulvaney v Rob Wintulich Pty Ltd (1995) 60 FCR 81 followed in part Odessa Promotions Pty. Ltd. (in liq), Re; Prescod v Harrison [1979] CLC 40-523 referred to Onefone Australia Pty Limited v One.Tel Ltd (In Liquidation) [2003] NSWSC 1228 cited One.Tel Networks Holdings Pty Ltd (Hallas rec and mgr), Re; (2001) 40 ACSR 83 cited Orbie Pty Ltd (in liq) (No 4), Re; (1984) 8 ACLR 967 referred to Pilling, In re; Ex parte Salaman [1906] 2 KB 644 cited Pink v De Thuisey (1871)2 Madd. 155 [56 ER 292] cited Robert E. James, Deceased; In the Matter of the Estate of 208 NYS 2d 303 (1960) cited Sanderson v Classic Car Insurances Pty Ltd (1985) 10 ACLR 115 discussed Shiraz Nominees (in liq) v Collinson (1985) 10 ACLR 7 referred to Warden, Re; (1928) 34 OWN 146 cited