In the matter of Mirabela Nickel Ltd (subject to deed of company arrangement) [2014] NSWSC 836

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Mirabela Nickel Ltd (subject to deed of company arrangement) [2014] NSWSC 836 Hearing dates: 12 June 2014 Decision date: 23 June 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made in accordance with short minutes of order including the grant of leave under s 444GA of the Corporations Act 2001 (Cth). Catchwords: CORPORATIONS - voluntary administration - deed of company arrangement - application by deed administrators for leave to transfer shares in company under Corporations Act 2001 (Cth) s 444GA - whether transfer of shares would unfairly prejudice the interests of members of the company - whether shareholders have any residual equity in company. Legislation Cited: - Corporations Act 2001 (Cth) ss 435A, 439A, 444GA, 444GA(3), 445D, 606 - Corporations Amendment (Insolvency) Act 2007 (Cth) - Corporations Amendment (Insolvency) Bill 2007 (Cth) - Foreign Acquisition and Takeovers Act 1974 (Cth) - Uniform Civil Procedure Rules 2005 (NSW) Sch 7 Cases Cited: - Lam Soon Australia Pty Ltd v Molit (No 55) Pty Ltd (1996) 70 FCR 34; (1996) 22 ACSR 169 - Lewis, In the Matter of Diverse Barrel Solutions Pty Ltd (subject to a Deed of Company Arrangement) [2014] FCA 53 - Lindholm v Tsourlinis Distributors Pty Ltd [2010] FCA 1488 - Weaver v Noble Resources Ltd [2010] WASC 182; (2010) 41 WAR 301 Texts Cited: - Commonwealth of Australia, Legal Committee of the Companies and Securities Advisory Committee, Corporate Voluntary Administration Report, (June 1998) Category: Interlocutory applications Parties: Martin Madden, David John Winterbottom and Clifford Stuart Rocke in their capacity as joint and several voluntary administrators of Mirabela Nickel Limited (subject to a Deed of Company Arrangement) (Plaintiffs) Representation: Counsel: I M Jackman SC/J R Williams (Plaintiffs) Solicitors: Gilbert & Tobin (Plaintiffs) File Number(s): 2014/148414