Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Lehman Bros Australia Ltd v Lehman Bros Special Financing Inc [2015] FCA 1529 Citation: Lehman Bros Australia Ltd v Lehman Bros Special Financing Inc [2015] FCA 1529
Parties: LEHMAN BROTHERS AUSTRALIA LIMITED (IN LIQUIDATION) (SCHEME ADMINISTRATORS APPOINTED) ACN 066 797 760 AND OTHERS (AS PER THE SCHEDULE) v LEHMAN BROTHERS SPECIAL FINANCING INC
File number: NSD 697 of 2015
Judge: RARES J
Date of judgment: 18 December 2015
Catchwords: CORPORATIONS – INSOLVENCY – Corporations Act 2001 (Cth) – approval of entry into a settlement deed between liquidator and creditors under ss 477(2A), 477(2B) and 479 – consideration of relevant factors to the compromise with and interests of creditors – Court does not review commercial judgment of liquidator under ss 477(2A) and 477(2B) – character of liquidator's application under s 479(3) – protection of each of liquidator and interests of creditors – whether open to liquidator to conclude proposed settlement to be in interests of creditors
Legislation: Corporations Act 2001 (Cth)
Cases cited: Belmont Park Investments Pty Ltd v BNY Corporate Trustee Services Ltd [2012] 1 AC 383 City of Swan v Lehman Bros Australia Ltd (2009) 179 FCR 243 Fortress Credit Corporation (Australia) II Pty Limited v Fletcher and Barnet (2015) 89 NSWLR 110 Lehman Bros Australia Ltd (In Liq) v Lehman Bros Special Financing Inc [2015] FCA 779 Lehman Bros Holdings Inc v City of Swan (2010) 240 CLR 509 Lehman Bros Special Financing Inc v BNY Corporate Trustee Services Ltd (2010) 422 BR 407 Macedonian Orthodox Community Church St Petka Incorporated v His Eminence Petar Diocesan Bishop of The Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66 Re Spedley Securities Limited (1992) 9 ACSR 83 Wingecarribee Shire Council v Lehman Bros Australia Ltd (In Liq) (2013) 95 ACSR 685 Wingecarribee Shire Council v Lehman Bros Australia Ltd (In Liq) (No 8) [2013] FCA 411 Wingecarribee Shire Council v Lehman Brothers Australia Limited (In Liq) (2012) 301 ALR 1
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