Dickerson, in the matter of McWilliam's Wines Group Ltd (subject to Deed of Company Arrangement) (No 3) [2020] FCA 1564

Federal Court of Australia

Dickerson, in the matter of McWilliam's Wines Group Ltd (subject to Deed of Company Arrangement) (No 3) [2020] FCA 1564 File number(s): NSD 92 of 2020

Judgment of: FARRELL J

Date of judgment: 19 October 2020

Date of publication of reasons: 28 October 2020

Catchwords: BANKRUPTCY AND INSOLVENCY – application for leave to transfer shares under s 444GA of the Corporations Act 2001 (Cth) – whether transfer would unfairly prejudice interests of members of company – where creditors would receive less in a winding up than under deed of company arrangement – where no realistic prospect of surplus for distribution to members upon liquidation – where members have a prospect of distribution under creditors' trust associated with deed of company arrangement – application granted

Legislation: Corporations Act 2001 (Cth) ss 444GA, 447A Corporations Act 2001 (Cth) Sch 2, Insolvency Practice Schedule (Corporations) s 90-15

Cases cited: Dickerson (Administrator), in the matter of McWilliam's Wines Group Ltd (Administrators Appointed) [2020] FCA 57 Dickerson, in the matter of McWilliam's Wines Group Ltd (Administrators Appointed) (No 2) [2020] FCA 417 In the matter of Mirabela Nickel Ltd (subject to deed of company arrangement) [2014] NSWSC 836 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 Tucker, in the matter of Black Oak Minerals Ltd (Subject to a Deed of Company Arrangement) (in liq) [2019] FCA 293