In the matter of Stirling Products Limited [2016] NSWSC 689

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Stirling Products Limited [2016] NSWSC 689 Hearing dates: 30 March 2016 Decision date: 30 March 2016 Jurisdiction: Equity - Corporations List Before: Black J Decision: Plaintiffs' application granted pursuant to s 447A of the Corporations Act 2001 (Cth). Catchwords: CORPORATIONS — Voluntary administration – Deed of company arrangement — Application to modify operation of Part 5.3A of the Corporations Act 2001 (Cth) – where original DOCA's specified termination date was earlier than date of execution of amended DOCA – where validity of amended DOCA may depend on original DOCA being valid at time of amended DOCA's execution – where amended DOCA's specified termination date had consequence that it would have terminated at the point of its execution – where events that occurred had consequence that amended DOCA would have terminated – where it would give effect to creditors' expectations to preserve validity of relevant transactions – whether modification of Part 5.3A under s 447A of the Corporations Act 2001 (Cth) appropriate in the circumstances. Legislation Cited: - Corporations Act 2001 (Cth), ss 445A, 445C, 445G, 447A, 482, 1322, Pt 5.3A Cases Cited: - Australasian Memory Pty Ltd v Brien [2000] HCA 30; (2000) 200 CLR 270 - Gordon, Re Macquarie Towns Partners Real Estate Pty Ltd (Subject to Deed of Company Arrangement) [2011] NSWSC 806 - Re Euco Ltd (in liq); Forrest Nursery Pty Ltd v Lopez [2006] FCA 935; (2006) 233 ALR 422 Category: Principal judgment Parties: Robert Whitton (creditor's trustee and former deed administrator) (First Plaintiff) Stirling Products Limited (Second Plaintiff) Representation: Counsel: N. Newton (Plaintiff)