Federal Court of Australia
Federal Court of Australia
Trygve, in the matter of Pacquola Group Pty Ltd (Administrator Appointed) [2024] FCA 393 File number(s): VID 290 of 2024
Judgment of: MCEVOY J
Date of judgment: 17 April 2024
Catchwords: BANKRUPTCY AND INSOLVENCY – Application under s 90–15 of the Insolvency Practice Schedule (Corporations) contained in Schedule 2 of the Corporations Act 2001 (Cth) – where a resolution was passed in favour of a deed of company arrangement proposal – where administrator subsequently identified that the wording of the deed of company arrangement proposal attached to the notice of meeting gave rise to three fundamental problems – where problems are said to undermine the effectiveness of the deed of company arrangement, could unintentionally put employee creditors in a worse position and mean that the deed of company arrangement would not conform with the Corporations Act 2001 (Cth) – where it is appropriate for the court to make the directions sought.
Legislation: Corporations Act 2001 (Cth) ss 435A, 436A, 439, 444A, 444B(2), 444DA, 556, 560, 561; Sch 2, s 90-15 Federal Court of Australia Act 1976 (Cth) ss 37AF(1)(b)(i) and 37AG(1)
Cases cited: Colbran, in the matter of Balsub Pty Ltd (in liquidation) [2023] FCA 1635 Joiner (Liquidator), in the matter of CuDeco Limited (Receivers and Managers Appointed) (in liq) [2020] FCA 1661 Kitay v Frigger [No 2] [2024] WASC 113 Re Le Meilleur Pty Ltd [2011] NSWSC 1115; (2011) 256 FLR 240
Division: General Division
Registry: Victoria
National Practice Area: Commercial and Corporations
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