In the matter of Streetscape Projects (Australia) Pty Limited (deed of company arrangement) [2013] NSWSC 1289

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Streetscape Projects (Australia) Pty Limited (deed of company arrangement) [2013] NSWSC 1289 Hearing dates: 21 August 2013 Decision date: 21 August 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made granting leave to the plaintiff to bring and maintain proceedings. Specified orders made to terminate deed of company arrangement and to appoint a liquidator. Orders made that plaintiff's costs of proceedings be paid by the first defendant, to be provable in the winding up. Catchwords: CORPORATIONS - deed of company arrangement - orders sought for termination of deed of company arrangement - leave sought to bring proceedings under s 444E of the Corporations Act 2001 (Cth) - whether the Court can make an order by consent that a deed of company arrangement be terminated for "some other reason" under s 445D(1)(g) Corporations Act 2001 (Cth). Legislation Cited: - Corporations Act 2001 (Cth) ss 444E, 445D, 445D(1)(a)-(f), 445D(1)(g), 445G, 447A, 459A, 459J, 491, 556(1), 556(1)(b), 556(1)(d), 588FF, 600B Cases Cited: - Dean-Willcocks (as liquidator of SJP Formwork (NSW) Pty Ltd) v Commissioner of Taxation (No 2) [2004] NSWSC 286; (2004) 49 ACSR 325 - Fortress Credit Corporation (Australia) II Pty Ltd v Octaviar Ltd [2010] QCA 45; (2010) 77 ACSR 339 -Greig v Deputy Commissioner of Taxation [2011] QSC 129 - Noxequin Pty Ltd v Deputy Commissioner of Taxation [2007] NSWSC 87 Category: Interlocutory applications Parties: The Council of the City of Sydney (Plaintiff) Streetscape Projects (Australia) Pty Limited (subject to deed of company arrangement) (First Defendant) Ozem Kassem in his capacity as a joint and several administrator of the deed of company arrangement of Streetscape Projects (Australia) Pty Limited (subject to a deed of company arrangement) (Second Defendant) Robert Kite in his capacity as a joint and several administrator of the deed of company arrangement of Streetscape Projects (Australia) Pty Limited (subject to deed of company arrangement) (Third Defendant) Representation: Counsel: S. Golledge (Plaintiff) D. Anderson (sol) (First Defendant) N. Tyson (sol) (Second and Third Defendants) Solicitors: Holding Redlich (Plaintiff) ERA Legal (First Defendant) Addisons Lawyers (Second and Third Defendants) File Number(s): 2012/328565