Coyne (deed administrator), in the matter of Obton Lotus Energy Rooftop Solar Pty Ltd [2023] FCA 1666

Federal Court of Australia

Coyne (deed administrator), in the matter of Obton Lotus Energy Rooftop Solar Pty Ltd [2023] FCA 1666 File number: VID 1069 of 2023

Judgment of: BEACH J

Date of judgment: 22 December 2023

Catchwords: CORPORATIONS — Deed of Company Arrangement — setting up of Creditors' Trust — transfer of shares in company — s 444GA of Corporations Act 2001 (Cth) — leave for deed administrator to effect transfer — effect of transfer — no unfair prejudice — interested party — director of transferor company — adjournment application — possible setting aside of DOCA — adjournment refused — leave granted to deed administrator to transfer shares — orders made

Legislation: Corporations Act 2001 (Cth) s 444GA

Cases cited: Lewis, in the matter of Diverse Barrel Solutions Pty Ltd (Subject to a Deed of Company Arrangement) [2014] FCA 53 Weaver and Others in their capacity as Joint and Several Deed Administrators of Midwest Vanadium Pty Ltd v Noble Resources Ltd (2010) 41 WAR 301

Division: General Division

Registry: Victoria

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 45

Date of hearing: 21 December 2023

Counsel for the Plaintiff: Mr M Grady

Solicitor for the Plaintiff: Hunt & Hunt

Counsel for Alan Vippond: Mr B P Devanny

Solicitor for Alan Vippond: Bancroft Lawyers

ORDERS VID 1069 of 2023

IN THE MATTER OF OBTON LOTUS ENERGY ROOFTOP SOLAR PTY LTD (SUBJECT TO DEED OF COMPANY ARRANGEMENT) (ACN 637 691 644) DAVID JOHN COYNE AS DEED ADMINISTRATOR OF OBTON LOTUS ENERGY ROOFTOP SOLAR PTY LTD (SUBJECT TO DEED OF COMPANY ARRANGEMENT) (ACN 637 691 644) Plaintiff