Forrest Nursery Pty Ltd, in the matter of Euco Limited (ACN 102 448 055) (In Liq) v Lopez and Verge as joint and several liquidators of Euco Ltd (In Liquidation) (ACN 102 448 055) [2006] FCA 935

FEDERAL COURT OF AUSTRALIA

Forrest Nursery Pty Ltd, in the matter of Euco Limited (ACN 102 448 055) (In Liq) v Lopez and Verge as joint and several liquidators of Euco Ltd (In Liquidation) (ACN 102 448 055) [2006] FCA 935

CORPORATIONS - administration – Deed of Company Arrangement – termination of Deed by resolution of creditors – resolution to wind up company – major creditor and proponent of variation to Deed of Arrangement absent from creditors' meeting – absence due to health emergency – no proxies at creditors' meeting – likelihood meeting would have voted for variation if major creditor present – application to set aside winding up and termination of Deed – application to vary Deed – variation recommended by the liquidators – no objection by creditors – no public interest or commercial morality consideration – orders sought made Corporations Act 2001 (Cth) s 436A, 447A, s 482 Cawthorn v Keira Constructions Pty Ltd (1994) 33 NSWLR 607 cited Milankov Pty Ltd v Roycol Ltd (1994) 124 ALR 391 cited Re I & J Foods Ltd (1995) 58 FCR 92 cited Hamilton v National Australia Bank Ltd (1996) 66 FCR 12 cited Re Brashs Pty Ltd (1994) 15 ACSR 477 cited Brash Holdings Ltd (Administrator Appointed) v Kantile Pty Ltd (1996) 1 VR 24 cited Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270 cited Re Pasminco Ltd (No 2) (2004) 49 ACSR 470 cited FORREST NURSERY PTY LTD (ACN 081 654 346) AND ANOTHER v GEORGE LOPEZ AND EVAN VERGE AS JOINT AND SEVERAL LIQUIDATORS OF EUCO LTD (IN LIQUIDATION) (ACN 102 448 055) WAD 149 OF 2006 FRENCH J 24 JULY 2006 PERTH

IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD149 OF 2006

In the matter of Euco Limited ACN 102 448 055 (In Liquidation)

BETWEEN: FORREST NURSERY PTY LTD

(ACN 081 654 346)

First Applicant