Deputy Commissioner of Taxation v Pope Joan Hospitality Pty Ltd (Restructuring Practitioner Appointed) [2023] FCA 872

Federal Court of Australia

Deputy Commissioner of Taxation v Pope Joan Hospitality Pty Ltd (Restructuring Practitioner Appointed) [2023] FCA 872 File number(s): VID 266 of 2023

Judgment of: SARAH C DERRINGTON J

Date of judgment: 21 July 2023

Catchwords: CORPORATIONS – interlocutory application to vary restructuring plan pursuant to reg 5.3B.61 of the Corporations Regulations 2001 (Cth) – where restructuring plan had been accepted by creditors – where there is no legislative mechanism to vary restructuring plan during acceptance period without Court approval – where creditors' interests protected by variation STATUTORY INTERPRETATION – Corporations Act 2001 (Cth) – Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (Cth) – Corporations Regulations 2001 (Cth) – Part 5.3B – construction of the Objects of Part 5.3B – construction of power of Court to vary restructuring plan – consideration of how the power should be exercised – whether s 453Q and s440A of the Corporations Act should be construed and applied in the same manner

Legislation: Acts Interpretation Act 1901 (Cth) s 15AA Corporations Act 2001 (Cth) ss 435A, 440A, 446A, 447A(1), 452A, 453A(b), 453Q(1), 455B, 455B(1), 458A, 458A(1), 458B, 458B(2), sch 2 (Insolvency Practice Schedule (Corporations) 2016), cll 5-15(ba), 5-15(bb), 90-15(1) Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (Cth) Corporations Regulations 2001 (Cth) regs 5.3B.02(j), 5.3B.14(1), 5.3B.15(2), 5.3B.15(3), 5.3B.16, 5.3B.17(1), 5.3B(18)(2)(a), 5.3B.18(4), 5.3B.20, 5.3B.21, 5.3B.21(1)(b), 5.3B.21(3), 5.3B.22, 5.3B.25, 5.3B.26, 5.3B.61