High Court of Australia
HIGH COURT OF AUSTRALIA
GLEESON CJ,
McHUGH, GUMMOW, HAYNE AND CALLINAN JJ
AUSTRALASIAN MEMORY PTY
LIMITED & ANOR APPELLANTS
AND
RICHARD CAMPBELL BRIEN & ANOR RESPONDENTS
Australasian Memory Pty Limited v Brien [2000] HCA 30
25 May 2000
S84/1999
ORDER
1. Appeal dismissed.
2. Second appellant to pay the respondents' costs.
On appeal from the Supreme Court of New South Wales
Representation:
B W Rayment QC with J G Duncan for the appellants (instructed by Gillis Delaney Brown)
S D Robb QC with G L Raffell for the respondents (instructed by Barker Gosling)
Notice: This copy of the Court's Reasons for Judgment is subject to formal revision prior to publication in the Commonwealth Law Reports.
CATCHWORDS
Australasian Memory Pty Limited v Brien
Corporations – External administration – Administration with a view to executing a deed of company arrangement – Power of court to make such order as it thinks appropriate about how Pt 5.3A is to operate in relation to a particular company – Whether power to remedy defect caused by convening of creditors meeting prior to specified period – Whether power to alter time periods fixed by Pt 5.3A where specific provisions for extension of time – Whether power retrospectively to vary the operation of Pt 5.3A – Whether power to affect vested rights.
Words and phrases – "is to operate".
Corporations Law, s 447A, Pt 5.3A.
1. GLEESON CJ, McHUGH, GUMMOW, HAYNE AND CALLINAN JJ. The Corporate Law Reform Act 1992 (Cth) made many amendments to "the Corporations Law set out in section 82" of the Corporations Act 1989 (Cth)[1]. By operation of s 7 of the Corporations (New South Wales) Act 1990 (NSW), and equivalent provisions of other State Corporations Acts, those amendments changed not only the Corporations Law set out in s 82 of the Commonwealth Corporations Act, but also the Corporations Law of each State. (There being no relevant difference between the provisions of the various Corporations Laws, it is convenient to refer simply to the "Corporations Law" or "the Law".) 2. The Corporate Law Reform Act introduced a new Part (Pt 5.3A, ss 435A451D) into the Corporations Law. It was headed "Administration of a Company's Affairs with a View to Executing a Deed of Company Arrangement". The object of Pt 5.3A was said, by s 435A, to be
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