Deputy Commissioner of Taxation v TMPL Pty Ltd (Subject to a Deed of Company Arrangement) [2010] FCA 1256

FEDERAL COURT OF AUSTRALIA

Deputy Commissioner of Taxation v TMPL Pty Ltd (Subject to a Deed of Company Arrangement) [2010] FCA 1256 Citation: Deputy Commissioner of Taxation v TMPL Pty Ltd (Subject to a Deed of Company Arrangement) [2010] FCA 1256

Parties: DEPUTY COMMISSIONER OF TAXATION v TMPL PTY LTD (SUBJECT TO A DEED OF COMPANY ARRANGEMENT) and ANTONY DE VRIES AND DAVID SOLOMONS

File number(s): NSD 1034 of 2009

Judge: PERRAM J

Date of judgment: 19 November 2010

Addendum: 6 December 2010

Catchwords: CORPORATIONS – External Administration – Deed of company arrangement (DOCA) – Termination of – Application to stay a proceeding seeking termination of DOCA – Balance of prejudice to parties – Application to terminate brought by Commissioner – Challenge to underlying tax assessment – Irrelevant consideration for application to stay – s 14ZZM Taxation Administration Act 1953 (Cth) TAXATION – Review of assessment of income tax by the Administrative Appeals Tribunal – Whether existence of such review proceedings relevant to an application to stay proceeding to terminate a deed of company arrangement on basis that Commissioner may cease to be a creditor – Effect of s 14ZZM Taxation Administration Act 1953 (Cth)

Legislation: Corporations Act 2001 (Cth) ss 444D, 445D, 446B, 511, 511B, 511C, 588FF Federal Court of Australia Act 1976 (Cth) s 23 Taxation Administration Act 1953 (Cth) s 14ZZM

Cases cited: Deputy Commissioner of Taxation v Broadbeach Properties Pty Ltd (2008) 237 CLR 473 applied Deputy Commissioner of Taxation v Niblett (1965) 83 WN (Pt 1) (NSW) 405 cited HFGC Nominees (No 2) Pty Ltd v Hancock as Liquidator of 246 Arabella Investments Pty Ltd (in liquidation) [2010] FCA 1005 cited Parkview Constructions Pty Ltd v Tayeh (2009) 71 ACSR 65 cited Public Trustee (Qld) v Octaviar Ltd (2009) 73 ACSR 139 applied