Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Decon Australia Pty Ltd v TFM Epping Land Pty Ltd [2020] FCA 1085 File number: NSD 817 of 2020
Judge: STEWART J
Date of judgment: 28 July 2020
Catchwords: CORPORATIONS – companies in voluntary administration – deeds of company arrangement (DOCAs) to be proposed at imminent second meetings of creditors – pre-existing pending applications to wind-up the companies – interim relief sought to restrain the creditors meetings and the execution of DOCAs pending application to terminate administrations of companies pursuant to s 447A of the Corporations Act 2001 (Cth) and/or setting aside resolutions and DOCAs pursuant to ss 447A and 445D and winding-up the companies – whether administrators have failed to properly investigate and consider the companies' affairs – whether administrators furnished misleading information to creditors – whether administrators denied plaintiff its proper voting rights – serious questions to be tried – whether balance of convenience favours interim relief – remedies available to plaintiff if the resolutions are adopted and the DOCAs executed – limited prejudice to plaintiff – balance of convenience does not justify Court's intervention – interim relief refused
Legislation: Building and Construction Industry Security of Payments Act 1999 (NSW) s 15 Corporations Act 2001 (Cth) ss 91, 438A, 439C, 440D, 444C, 445D, 447A, 459C
Cases cited: Aloridge Pty Ltd v Christianos [1994] FCA 123; 13 ACSR 99 Australian Securities and Investments Commission v Midland Hwy Pty Ltd (admin apptd) [2015] FCA 1360; 110 ACSR 203 Blacktown City Council v Macarthur Telecommunications Pty Ltd [2003] NSWSC 883; 47 ACSR 391 Chief Commissioner of State Revenue (NSW) v Rafferty's Resort Management Pty Ltd (in liq) [2008] NSWSC 452; 217 FLR 230 Lehman Brothers Holdings Inc v City of Swan [2010] HCA 11; 240 CLR 509 Mighty River International Ltd v Hughes [2018] HCA 38; 265 CLR 480 Re Recycling Holdings Pty Ltd [2015] NSWSC 1016; 107 ACSR 406 Re Ten Network [2017] NSWSC 1247 Vannella Pty Ltd Atf Capitalist Family Trust v TFM Epping Land Pty Ltd [2020] NSWSC 659
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