In the matter of Paladin Energy Limited (subject to Deed of Company Arrangement) [2018] NSWSC 11

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Paladin Energy Limited (subject to Deed of Company Arrangement) [2018] NSWSC 11 Hearing dates: 16 January 2018 Decision date: 18 January 2018 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 Paladin Energy Limited pursuant to the deed of company arrangement 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), Ch 6, Pt 5.3A, ss 444GA, 606 - Corporations Amendment (Insolvency) Act 2007 (Cth) - Supreme Court (Corporations) Rules 1995 (NSW), r 2.13 Cases Cited: - Re BCD (Operations) NL (subject to deed of company arrangement) [2014] VSC 259; (2014) 100 ACSR 45 - Re Kupang Resources Limited (subject to deed of company arrangement) (recs and mgrs apptd) [2016] NSWSC 1895 - Re Lewis, Diverse Barrel Solutions Pty Ltd (subject to deed of company arrangement) [2014] FCA 53 - Re Mirabela Nickel Ltd (subject to deed of company arrangement) [2014] NSWSC 836 - Re Nexus Energy Ltd (subject to deed of company arrangement) [2014] NSWSC 1910; (2015) 105 ACSR 246 - Re Ten Network Holdings Limited (subject to a deed of company arrangement) (recs and mgrs apptd) [2017] NSWSC 1529 - Re 3GS Holdings Pty Ltd (subject to deed of company arrangement) [2015] VSC 145 - Weaver v Noble Resources Ltd [2010] WASC 182; (2010) 41 WAR 301; 79 ACSR 237 Category: Principal judgment Parties: Matthew David Woods, Hayden Leigh White and Gayle Dickerson in their capacities as joint and several deed administrators of Paladin Energy Ltd (subject to deed of company arrangement) (Plaintiffs) Ad hoc Committee of Bondholders, D Burrell, R Kalfon (Interested Persons) Representation: Counsel: I R Pike SC/M.L. Rose (Plaintiffs) A Whitby (Solicitor – Ad hoc Committee of Bondholders) D Burrell (Interested Person) R Kalfon (Interested Person)