In the matter of Metal Storm Ltd (subject to Deed of Company Arrangement) [2015] NSWSC 1698

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Metal Storm Ltd (subject to Deed of Company Arrangement) [2015] NSWSC 1698 Hearing dates: 21 July 2015 Decision date: 21 July 2015 Jurisdiction: Equity - Corporations List Before: Black J Decision: Grant approval to the receivers, nunc pro tunc, for the sale of assets. Catchwords: CORPORATIONS – receivers, controllers and managers – application by receivers under s 424 of the Corporations Act 2001 (Cth) for approval in relation to sale of assets. Legislation Cited: - Corporations Act 2001 (Cth) ss 283HB, 420A, 420A(1), 424, 479, 511 Cases Cited: - Chan v Four C Realty Pty Ltd (in liq) (No 2) [2013] FCA 959; (2013) 95 ACSR 666 - Re Anglican Development Fund Diocese of Bathurst - Board (recs and mgrs apptd) [2015] NSWSC 6 - Re One.Tel Network Holdings Pty Ltd [2001] NSWSC 1065; (2001) 40 ACSR 83 Category: Procedural and other rulings Parties: Adam Shepard (in his capacity as deed administrator of Metal Storm Ltd) (First Plaintiff) Metal Storm Ltd (subject to a deed of company arrangement) (Second Plaintiff) ANZ Trustees Limited (First Defendant) The Australian Special Opportunity Fund LP (Second Defendant) Christopher Darin and Aaron Lucan (in their capacity as receivers of Metal Storm Limited (in liquidation) (receivers appointed) (Applicants) Representation: Counsel: M Ryckmans (solicitor – First Plaintiff) D Krochmalik (First Defendant) M A Karam (Applicants)