ION Limited, in the matter of ION Limited (Subject to Deed of Company Arrangement) (No 2) [2012] FCA 561

FEDERAL COURT OF AUSTRALIA

ION Limited, in the matter of ION Limited (Subject to Deed of Company Arrangement) (No 2) [2012] FCA 561 Citation: ION Limited, in the matter of ION Limited (Subject to Deed of Company Arrangement) (No 2) [2012] FCA 561

Parties: ION LIMITED (SUBJECT TO DEED OF COMPANY ARRANGEMENT) and KEITH ALEXANDER CRAWFORD AND PETER MCKENZIE ANDERSON

File number: VID 634 of 2010

Judges: DODDS-STREETON J

Date of judgment: 30 May 2012

Catchwords: CORPORATIONS – deed of company arrangement – Whether extension of time in which to appeal from deed administrators' rejection of shareholder claimant's proof – applicant applied eight months out of time – repeatedly advised of right to appeal – whether reasonable explanation for delay – prejudice to respective parties – whether claim reasonably arguable

Legislation: Corporations Act 2001 (Cth), s 1312(1) Corporations Regulations 2001 (Cth), reg 5.6.54 Federal Court (Corporations) Rules 2000 (Cth), Rule 14.1

Cases cited: Brennan v McGrath [2011] NSWSC 561 cited De Bortoli Wines Pty Ltd v HIH Insurance Ltd (in liq) (2011) 281 ALR 454 applied Derwinto Pty Ltd (in liq) v Lewis (2002) 42 ACSR 645 approved ION Limited, in the matter of ION Limited (Subject to Deed of Company Arrangement) [2011] FCA 1513 cited Mine & Quarry Equipment International Ltd v McIntosh [2005] QSC 59 cited Re Newtronics Pty Ltd (in liq) [2011] VSC 349 cited Sons of Gwalia Ltd v Margaretic (2007) 231 CLR 160 cited SZFDE v Minister for Immigration and Citizenship (2007) 232 CLR 189 cited Tanning Research Laboratories Inc v O'Brien (1990) 169 CLR 332 cited