In the matter of Boart Longyear Limited [2021] NSWSC 1269

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Boart Longyear Limited [2021] NSWSC 1269 Hearing dates: 16 September 2021 Date of orders: 16 September 2021 Decision date: 30 September 2021 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made approving creditors' schemes of arrangement. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – Application under s 411 of the Corporations Act 2001 (Cth) for orders approving creditors' schemes of arrangement – Whether creditors' schemes of arrangement should be approved. Legislation Cited: - Corporations Act 2001 (Cth), s 411 - Securities Act 1933 (US), s 3(a)(10) Cases Cited: - Australian Securities Commission v Marlborough Gold Mines Limited (1993) 177 CLR 485; (1993) 10 ACSR 230; [1993] HCA 15 - Re Atlas Iron Ltd (No 2) [2016] FCA 481 - Re Aveo Group Ltd and Aveo Funds Management Ltd [2019] NSWSC 1679 - Re Boart Longyear Ltd (No 2) (2017) 122 ACSR 437; [2017] NSWSC 1105 - Re Boart Longyear Ltd [2021] NSWSC 982 - Re Central Pacific Minerals NL [2002] FCA 239 - Re Ellerston Global Investments Ltd [2020] NSWSC 1108 - Re NRMA Ltd (No 2) (2000) 156 FLR 412; (2000) 34 ACSR 261; [2000] NSWSC 408 - Re Seven Network Ltd (No 3) (2010) 267 ALR 583; 77 ACSR 701; [2010] FCA 400 - Re Redcape Property Fund and Trust Company (RE Services) Ltd (as the responsible entity for the Redcape Property Trust) [2012] NSWSC 486 - Re Simeon Wines Ltd (2002) 42 ACSR 454; [2002] SASC 204 - Re Solution 6 Holdings Ltd (2004) 50 ACSR 113; [2004] FCA 1049 Category: Principal judgment Parties: Proceedings 2021/209335 Boart Longyear Limited (First Plaintiff) Boart Longyear Management Pty Ltd (Second Plaintiff) Boart Longyear Australia Pty Ltd (Third Plaintiff) Votraint No 1609 Pty Ltd (Fourth Plaintiff) Boart Longyear Investments Pty Ltd (Fifth Plaintiff) BL Capital Management LLC (Sixth Plaintiff) BLY US Holdings Inc (Seventh Plaintiff) Representation: Counsel: I M Jackman SC/B Ng (Plaintiffs) M Oakes SC (Affiliates of Centerbridge Partners LP) J Williams SC (Ad Hoc Group)