Sprys Coating Services Pty Ltd (Restructuring Practitioners Appointed), in the matter of Sprys Coating Services Pty Ltd (Restructuring Practitioners Appointed) [2024] FCA 1152

Federal Court of Australia

Sprys Coating Services Pty Ltd (Restructuring Practitioners Appointed), in the matter of Sprys Coating Services Pty Ltd (Restructuring Practitioners Appointed) [2024] FCA 1152 File number: WAD 253 of 2024

Judgment of: COLVIN J

Date of judgment: 18 September 2024

Date of publication of reasons: 3 October 2024

Catchwords: CORPORATIONS - application by company for an order to retrospectively extend the 'proposal period' for the purposes of proposing a restructuring plan in accordance with Part 5.3B of the Corporations Act 2001 (Cth) - where 'proposal period' had already expired by time of application - consideration of Court's jurisdiction to make orders nunc pro tunc under s 458A of the Corporations Act and reg 5.3B.17(4) of the Corporations Regulations 2001 (Cth) - held Court had jurisdiction under those provisions - orders made

Legislation: Corporations Act 2001 (Cth) ss 58AA, 447A, 453A, 453B, 453E, 453H, 453K, 455A, 455B, 458A, 458B, 1322, Parts 5.3A, 5.3B Explanatory Memorandum, Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 (Cth) Judiciary Act 1903 (Cth) s 39B Corporations Regulations 2001 (Cth) regs 5.3B.02, 5.3B.14, 5.3B.15, 5.3B.17, 5.3B.21, Part 5.3B

Cases cited: Australasian Memory Pty Limited v Brien [2000] HCA 30; (2000) 200 CLR 270 Australian Rail, Tram and Bus Industry Union v Metro Trains Melbourne Pty Ltd [2020] FCAFC 81; (2020) 276 FCR 172 BE Australia WD Pty Ltd (subject to a deed of company arrangement) v Sutton [2011] NSWCA 414; (2011) 82 NSWLR 336 Commonwealth of Australia v SCI Operations Pty Limited [1998] HCA 20; (1998) 192 CLR 285 Correa v Whittingham [2013] NSWCA 263 Deputy Commissioner of Taxation v Pope Joan Hospitality Pty Ltd (Restructuring Practitioner Appointed) [2023] FCA 872 Emanuele v Australian Securities Commission (1997) 188 CLR 114 Flynn v Theobald [2008] WASC 263 Hrycenko v Hrycenko (by his legal representative Hrycenko) [2022] FCAFC 152; (2022) 294 FCR 233 In the matter of Ansett Australia Limited and Mentha [2001] FCA 1806; (2001) 115 FCR 376 In the Matter of Supreme Imports Pty Ltd (In Liquidation); Re de Vries [2001] NSWSC 1209 Javorsky v Rico Pty Limited [2001] NSWSC 746 John Vouris Re; Epromotions Australia Pty Ltd and Relectronic-Remech Pty Ltd (In Liq) [2003] NSWSC 702 McDonald, in the matter of Pasdonnay Pty Limited (ACN 009 131 622) (Administrators Appointed) [2005] FCA 335 Minister for Aboriginal Affairs v Peko-Wallsend Limited (1986) 162 CLR 24 National Australia Bank Ltd v Horne [2011] VSCA 280 Norbis v Norbis (1986) 161 CLR 513 Owners of the Ship 'Shin Kobe Maru' v Empire Shipping Company Inc (1994) 181 CLR 404 Panasystems Pty Ltd v Voodoo Tech Pty Ltd [2003] FCA 428 Re Ricon Constructions Pty Ltd (In Liq); Ex parte McDonald (1997) 43 NSWLR 174 Robson as former trustee of the estate of Samsakopoulos v Body Corporate for Sanderling at Kings Beach CTS 2942 [2021] FCAFC 143; (2021) 286 FCR 494 Shirlaw v Graham [2001] NSWSC 612 Strawbridge and Tracy in their capacity as joint and several administrators, in the matter of Oceanlinx Limited [2014] FCA 524 SZTAL v Minister for Immigration and Border Protection [2017] HCA 34; (2017) 262 CLR 362