In the matter of Boart Longyear Limited [2017] NSWSC 537

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Boart Longyear Limited [2017] NSWSC 537 Hearing dates: 27 April 2017 Decision date: 27 April 2017 Jurisdiction: Equity - Corporations List Before: Black J Decision: Make orders restraining further proceedings against the Plaintiffs and appointing Fabrizio Rasetti as a foreign representative of the proceedings for the purposes of the Cross-Border Insolvency Act 2008 (Cth). Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – where scheme of arrangement proposed – whether order restraining further proceedings should be made under s 411(16) of the Corporations Act – whether "further proceedings" includes proceedings that are not yet commenced – whether nominee should be appointed as a "foreign representative" for the purposes of the Cross-Border Insolvency Act 2008 (Cth) Legislation Cited: - Corporations Act 2001 (Cth), ss 411, 581(2), 588G, 1319 - Cross-Border Insolvency Act 2008 (Cth) Cases Cited: - Playcorp Pty Ltd v Venture Stores (Retailers) Pty Ltd (1992) 7 ACSR 193 - Re Emeco Holdings Limited (FCA, NSD 101/2017) - Re GAE Pty Ltd [1962] VR 252 - Re Glencore Nickel Pty Ltd [2003] WASC 18; (2003) 44 ACSR 210 - Re Reid Murray Acceptance Ltd [1964] VR 82 - Re Telewest Communications PLC [2004] EWHC 924' [2005] 1 BCLC 752 Category: Procedural and other rulings Parties: Boart Longyear Limited, Boart Longyear Management Pty Limited, Boart Longyear Australia Pty Limited, Votraint No. 1609 Pty Limited (Plaintiffs) Representation: Counsel: I M Jackman SC/M A Izzo (Plaintiffs) M Oakes SC (Creditor – Centerbridge Partners LLP) T Wong (Solicitor – Creditor – First Pacific Advisors LLC)