MULTELINK AUST. LTD (Admin Appt) IN THE MATTER OF [2003] NSWSC 836

Reported Decision : (2003) 21 ACLC 1661

New South Wales Supreme Court

CITATION : MULTELINK AUST. LTD (Admin Appt) IN THE MATTER OF [2003] NSWSC 836 HEARING DATE(S) : 08/09/2003 JUDGMENT DATE : 10 September 2003 JURISDICTION: Equity JUDGMENT OF : Bryson J at 1 DECISION : The Originating Process is dismissed.

CATCHWORDS : CORPORATIONS - DEED OF COMPANY ARRANGEMENTS - use of words "subject to d.c.a." - administrator of company in voluntary administration applied for order under s.447A enabling the company to enter deed of company arrangement and trade without using words "subject to deed of company arrangement" on documents - in opinion of directions who proposed d.c.a. use of those words would make it unlikely that the company would trade successfully - business was provision of telecommunications services to customers most of whom prepaid and maintained a float - minimum $50 - held - it was not just to allow trade without using the words required by subs.450E(2) - the risk to persons dealing with the company under d.c.a. would not be balanced out by new capital brought in or in any other way - order under s.447A refused. s.436A of the Corporations Act 2001 LEGISLATION CITED : s.447A of the Corporations Act 2001 subs.450E(2) of the Corporations Act 2001 CASES CITED : Australasian Memory Pty Ltd v. Brien (2000) 200 CLR 270 Re Brashs Pty Ltd (1994) 15 ACSR 477 PARTIES : Giles Geoffrey Woodgate FILE NUMBER(S) : SC 4581/2003 COUNSEL : M.A. Wigney - Applicant SOLICITORS : Piper Alderman - Applicant

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION COMMERCIAL LIST