Tucker, in the matter of Black Oak Minerals Ltd (Subject to a Deed of Company Arrangement) (in liq) [2019] FCA 293

FEDERAL COURT OF AUSTRALIA

Tucker, in the matter of Black Oak Minerals Ltd (Subject to a Deed of Company Arrangement) (in liq) [2019] FCA 293 File number: WAD 610 of 2018

Judge: BANKS-SMITH J

Date of judgment: 31 January 2019

Date of publication of reasons: 7 March 2019

Catchwords: CORPORATIONS - application by deed administrators for leave to transfer shares under s 444GA of the Corporations Act 2001 (Cth) - where transfer a term of a deed of company arrangement - whether transfer would unfairly prejudice interests of members of company - where no current or future residual value in shares - whether any other issue relevant to question of unfair prejudice - where creditors would receive less in a winding up than under deed of company arrangement - orders made CORPORATIONS - application to terminate winding up of company - where deed of company arrangement will provide trust for creditors and return company to solvency - where no allegation that an officer of the company has engaged in misconduct - orders made

Legislation: Corporations Act 2001 (Cth) ss 436A, 436B, 439A, 439C, 444GA, 445HA, 447A, 482, 606, Part 5.3A, Schedule 2 div 90-15 Insolvency Practice Rules (Corporations) 2016 (Cth) r 75-225

Cases cited: Australasian Memory Pty Ltd v Brien [2000] HCA 30; (2000) 200 CLR 270 Cawthorn v Keira Constructions Pty Ltd (1994) 13 ACSR 334 In the Matter of OrotonGroup Limited (Subject to Deed of Company Arrangement) ACN 000 038 675; Application of Strawbridge and Kanevsky [2018] NSWSC 1213 In the matter of Paladin Energy Limited (subject to Deed of Company Arrangement) [2018] NSWSC 11 Krejci (liquidator), in the matter of Community Work Pty Ltd (in liq) [2018] FCA 425 Lewis, in the matter of Diverse Barrel Solutions Pty Ltd (Subject to a Deed of Company Arrangement) [2014] FCA 53 Re BCD Resources NL (Subject to Deed of Company Arrangement) [2018] NSWSC 1605 Re Living Creatively Exhibitions Pty Ltd (in liq) (subject to deed of company arrangement) [2013] NSWSC 717 Re Manband Pty Ltd (in liq) (Subject to Deed of Company Arrangement [2018] NSWSC 1282 Re Nexus Energy Ltd (Subject to Deed of Company Arrangement) [2014] NSWSC 1910; (2015) 105 ACSR 246 Shepard, in the matter of Quest Minerals Limited v Mutual Holdings Pty Limited [2016] FCA 1559 Vero Workers Compensation (NSW) Ltd v Ferretti [2006] NSWSC 292 Weaver v Noble Resources Ltd [2010] WASC 182; (2010) 41 WAR 301