In the matter of Elite Logistics Holdings Pty Ltd (subject to deed of company arrangement) [2017] NSWSC 1830

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Elite Logistics Holdings Pty Ltd (subject to deed of company arrangement) [2017] NSWSC 1830 Hearing dates: 9 October 2017 Decision date: 09 October 2017 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court grants leave pursuant to s 444GA of the Corporations Act 2001 (Cth) to transfer the shares in Elite Logistics Holdings Pty Ltd (subject to deed of company arrangement) pursuant to the deed of company arrangement executed on 23 May 2017 Catchwords: CORPORATIONS — Voluntary administration — Deed of company arrangement — Application under s 444GA of the Corporations Act 2001 (Cth) for leave to transfer shares pursuant to deed – whether residual equity in company – whether shareholders unfairly prejudiced Legislation Cited: - Corporations Act 2001 (Cth), ss 439A, 444GA - Corporations Amendment (Insolvency) Act 2007 (Cth) Cases Cited: - Lewis, in the matter of Diverse Barrel Solutions Pty Ltd (subject to a deed of company arrangement) [2014] FCA 53 - Re BCD Resources (Operations) NL (subject to deed of company arrangement) [2014] VSC 259; (2014) 100 ACSR 450 - Re Kupang Resources Ltd (subject to deed of company arrangement) (recs and mgrs apptd) [2016] NSWSC 1895 - Re Nexus Energy Ltd (subject to deed of company arrangement) [2014] NSWSC 1910; (2014) 105 ACSR 246 - Weaver & Ors in their capacity as joint and several deed administrators of Midwest Vanadium Pty Ltd v Noble Resources Ltd [2010] WASC 182; (2010) 41 WAR 301; 79 ACSR 237 Category: Principal judgment Parties: Daniel Soire and Bruce Gleeson in their capacities as joint and several deed administrators or Elite Logistics Holdings Pty Ltd (subject to deed of company arrangement) (Plaintiff) Elite Wine Logistics Pty Ltd (Defendant) Representation: Counsel: N Simpson (Plaintiff)