In the matter of Manband Pty Limited (in liquidation) (subject to Deed of Company Arrangement) [2018] NSWSC 1282

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Manband Pty Limited (in liquidation) (subject to Deed of Company Arrangement) [2018] NSWSC 1282 Hearing dates: 8 May 2018, 16 August 2018 Decision date: 20 August 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court indicates that it will make order terminating the winding up following payment into deed fund and further capitalisation of the company. Catchwords: CORPORATIONS – winding up – order for termination of a winding up where company subject to a deed of company arrangement – where undertaking made to contribute further capital to the company – where entry into deed of company arrangement would result in better return to creditors than a liquidation – whether winding up should be terminated. Legislation Cited: - Corporations Act 2001 (Cth) ss 180, 181, 182, 206F, 436B, 439A, 482, 511, 533, 556, 588G Cases Cited: - Mercy & Sons Pty Ltd v Wanari Pty Ltd (subject to deed of company arrangement) (in liq) [2000] NSWSC 756 - Re Krejci (as liquidator of Community Work Pty Ltd) (in liq) [2018] FCA 425 - Re Living Creatively Exhibitions Pty Ltd (in liq) (subject to deed of company arrangement) [2013] NSWSC 717 - Vero Workers Compensation (NSW) Ltd v Ferretti Pty Ltd [2006] NSWSC 292; (2006) 57 ACSR 103 Category: Principal judgment Parties: Ozem Kassem in his capacity as liquidator of Manband Pty Limited (in liquidation) (subject to deed of company arrangement) (First Plaintiff) Jason Tang in his capacity as liquidator of Manband Pty Limited (in liquidation) (subject to deed of company arrangement) (Second Plaintiff) Manband Pty Limited (in liquidation) (subject to deed of company arrangement) (Defendant) Representation: Counsel: A Kozary (Solicitor) (Plaintiffs)