Tucker, in the matter of Aero Inventory (UK) Limited v Aero Inventory (UK) Limited [2009] FCA 1354

FEDERAL COURT OF AUSTRALIA

Tucker, in the matter of Aero Inventory (UK) Limited v Aero Inventory (UK) Limited [2009] FCA 1354

CORPORATIONS - Cross-Border Insolvency Act 2008 (Cth) - UNCITRAL Model Law on Cross-Border Insolvency, Article 19 - provisional relief pending decision on application for recognition of foreign proceeding - considerations relevant to grant of provisional relief Cross-Border Insolvency Act 2008 (Cth), Schedule 1 (Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law), Article 19 IN THE MATTER OF AERO INVENTORY (UK) LIMITED (ABN 45 686 785 597) JAMES ROBERT TUCKER, RICHARD HEIS AND ALLAN WATSON GRAHAM IN THEIR CAPACITIES AS THE FOREIGN REPRESENTATIVES OF AERO INVENTORY (UK) LIMITED (ABN 45 686 785 597) v AERO INVENTORY (UK) LIMITED (ABN 45 686 785 597)

NSD 1285 of 2009

LINDGREN J

20 NOVEMBER 2009

SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY

GENERAL DIVISION NSD 1285 of 2009

IN THE MATTER OF AERO INVENTORY (UK) LIMITED (ABN 45 686 785 597) BETWEEN: JAMES ROBERT TUCKER, RICHARD HEIS AND

ALLAN WATSON GRAHAM IN THEIR CAPACITIES

AS THE FOREIGN REPRESENTATIVES OF

AERO INVENTORY (UK) LIMITED

(ABN 45 686 785 597)

Plaintiffs

and: AERO INVENTORY (UK) LIMITED

(ABN 45 686 785 597)

Defendant

JUDGE: LINDGREN J

DATE OF ORDER: 12 NOVEMBER 2009

WHERE MADE: SYDNEY

THE COURT ORDERS THAT:

1. The application be returnable instanter. 2. Pursuant to Articles 19 and 21 of Schedule 1 of the Cross-Border Insolvency Act 2008 (Cth), until this proceeding is finally heard and determined or further order or unless with the plaintiffs' written consent: (a) No person may enforce a charge on the property of the defendant. (b) If: (i) property of the defendant is subject to a lien or pledge; and (ii) property of the defendant is in the lawful possession of the holder of the lien or pledge; then the holder of the lien or pledge (iii) may continue to possess the property; and (iv) cannot sell the property or otherwise enforce the lien or pledge. (c) No owner or lessor of property that is used or occupied by, or in the possession of, the defendant, may take possession of the property or otherwise recover it. (d) No proceeding in any court against the defendant, or in relation to any of its property, may be begun or proceeded with. (e) No enforcement process in relation to property of the defendant may be begun or proceeded with. 3. In respect of Rule 15A.6 of the Federal Court (Corporations) Rules 2000 and pursuant to Rule 1.8: (a) The plaintiffs send a notice of the filing of the application in this proceeding in accordance with Form 20 and a copy of the Originating Process to each Australian creditor known to the plaintiffs. (b) The plaintiffs be not required to publish a notice of the filing of the application for recognition of a foreign proceeding in accordance with Rule 15A.6(1)(b); and (c) Instead, the plaintiffs publish within 5 days of this order a notice of the filing of the application in this proceeding in accordance with Form 20, once in The Australian newspaper and once in the Australian Financial Review. 4. In respect of Rule 15A.3(4), the plaintiffs be not required to serve a copy of the Originating Process and other documents in accordance with Rule 2.7(1). 5. In respect of Rule 15A.4(2), the plaintiffs be not required to serve the Interlocutory Process in accordance with Rule 2.7(2). 6. The proceeding be stood over to Monday 30 November 2009 at 10.15 am for final hearing. 7. Liberty to apply on 24 hours' notice. 8. Until further order, Annexures D and E to the affidavit of Damian John Templeton sworn 12 November 2009 remain confidential to the parties and their legal representatives. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. The text of entered orders can be located using eSearch on the Court's website. IN THE FEDERAL COURT OF AUSTRALIA