Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Lehman Brothers Australia Ltd, in the matter of Lehman Brothers Australia Ltd (in liq) (No 2) [2013] FCA 965 Citation: Lehman Brothers Australia Ltd, in the matter of Lehman Brothers Australia Ltd (in liq) (No 2) [2013] FCA 965
Parties: LEHMAN BROTHERS AUSTRALIA LIMITED (IN LIQUIDATION) ACN 066 797 760, MARCUS WILLIAM AYRES and STEPHEN JAMES PARBERY
File number: NSD 622 of 2013
Judge: JACOBSON J
Date of judgment: 25 September 2013
Catchwords: CORPORATIONS – scheme of arrangement – scheme affecting the rights of a class of creditors against third parties – meaning of "compromise or arrangement" in s 411(1) Corporations Act 2001 (Cth) – whether provision of releases to third party insurers in return for payment of insurance proceeds fulfils the requisite element of a compromise or arrangement – earlier scheme meeting opened and adjourned – order sought for dissolution of scheme meeting and convening of new scheme meeting
Legislation: Corporations Act 2001 (Cth) ss 411, 562, 1319 Federal Court of Australia Act 1976 (Cth) s 33V Joint Stock Companies Arrangement Act 1870 (UK) Law Reform (Miscellaneous Provisions) Act 1946 (NSW) s 6
Cases cited: Australian Securities Commission v Marlborough Gold Mines Ltd (1993) 177 CLR 485 Fowler v Lindholm (2009) 178 FCR 563 In the matter of Lehman Brothers International (Europe) (in admin) [2009] EWCA Civ 1161 Lehman Brothers Australia Ltd, in the matter of Lehman Brothers Australia Ltd (in liq) [2013] FCA 486 Mercantile Investment & General Trust Co v International Company of Mexico [1893] 1 Ch 484,n NRG London Reinsurance Company Ltd, in the matter of NRG Victory Aust Ltd and the Corporations Act 2001 [2006] FCA 872 Re Alabama, New Orleans, Texas and Pacific Junction Railway Co [1891] 1 Ch 213 Re CMPS & F Pty Ltd (1997) 24 ACSR 728 Re Guardian Insurance Company (1917) 1 Ch 431 Re International Harvester Co of Aust Pty Ltd [1953] VLR 669 Re NFU Development Trust Ltd [1972] 1 WLR 1548 Re NRMA Ltd (2000) 33 ACSR 595 Re Opes Prime Stockbroking Ltd (2009) 179 FCR 20 Re Sonodyne International Ltd (1994) 15 ACSR 494 Re T&N Ltd (No 3) [2006] EWHC 1447 (Ch) Ross Human Directions Limited, in the matter of Ross Human Directions Limited [2010] FCA 1089
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