High Court of Australia
HIGH COURT OF AUSTRALIA
FRENCH CJ,
GUMMOW, HAYNE, HEYDON AND KIEFEL JJ
Matter No S1/2010
LEHMAN BROTHERS HOLDINGS INC APPELLANT
AND
CITY OF SWAN & ORS RESPONDENTS
Matter No S362/2009
LEHMAN BROTHERS ASIA HOLDINGS LIMITED
(IN LIQUIDATION) APPELLANT
AND
CITY OF SWAN & ORS RESPONDENTS
Lehman Brothers Holdings Inc v City of Swan
Lehman Brothers Asia Holdings Limited (in liquidation) v City of Swan
[2010] HCA 11
Date of Order: 30 March 2010
Date of Publication of Reasons: 14 April 2010
S1/2010 & S362/2009
ORDER
Matter No S1/2010
1. Appeal dismissed.
2. The appellant pay the costs of the first, second and third respondents.
Matter No S362/2009
1. Appeal dismissed.
2. The appellant pay the costs of the first, second and third respondents.
On appeal from the Federal Court of Australia
Representation
T F Bathurst QC with A J Payne SC and E A J Hyde for the appellant in S1/2010 and the seventh respondent in S362/2009 (instructed by Jones Day)
D L Williams SC with M J Steele for the seventh respondent in S1/2010 and the appellant in S362/2009 (instructed by DibbsBarker Lawyers)
N C Hutley SC with A P Coleman and D R Sulan for the first to third respondents in both matters (instructed by Piper Alderman)
B A J Coles QC with P Kulevski for the fourth to sixth respondents in both matters (instructed by Clayton Utz Lawyers)
S J Gageler SC, Solicitor-General of the Commonwealth with J W S Peters SC and O Bigos appearing as amicus curiae on behalf of Australian Securities and Investments Commission (instructed by Australian Securities and Investments Commission)
Notice: This copy of the Court's Reasons for Judgment is subject to formal revision prior to publication in the Commonwealth Law Reports.
CATCHWORDS
Lehman Brothers Holdings Inc v City of Swan
Lehman Brothers Asia Holdings Limited (in liquidation) v City of Swan
Corporations – Statutes – Deed of company arrangement ("DOCA") – Corporations Act 2001 (Cth), s 444D(1), provided that a "deed of company arrangement binds all creditors of the company, so far as concerns claims arising on or before the day specified in the deed" – Where provisions of DOCA purported to provide for moratorium on and release of claims that might be made by company's creditors against persons other than the company – Whether such provisions of DOCA binding on company's creditors – Whether DOCA void.
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