City of Swan v Lehman Bros Australia Ltd [2009] FCA 784

City of Swan v Lehman Bros Australia Ltd [2009] FCA 784

It is just and convenient to order that the questions as to the construction and validity of clauses 7.1, 9, and 11.5 of the deed of company arrangement, and the breadth of powers under Pt 5.3A of the Corporations Act 2001 (Cth), be reserved for separate hearing and determination by a Full Court, as this will likely clarify core elements of the proceedings and serve the interests of prompt and efficient resolution without unduly restricting the factual inquiry necessary for such determination.

Jurisdiction
Australia
Judgment Date
23 July 2009
Procedural Posture
Commercial Corporations Law / Interlocutory (order for Separate Questions)
Outcome
Order for separate questions to be reserved for consideration by the Full Court in the original jurisdiction.
Legal Topics
['deeds of Company Arrangement' 'voluntary Administration' 'powers Under Corporations Act' 'separate Questions Procedure' 'releases of Third Party Rights']
['corporations Law' 'insolvency Law' 'civil Procedure'] ['deeds of Company Arrangement' 'voluntary Administration' 'powers Under Corporations Act' 'separate Questions Procedure' 'releases of Third Party Rights']

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Procedural Posture

Commercial Corporations Law / Interlocutory (order for Separate Questions)

Legal Issues

  1. 1 ['Whether Pt 5.3A of the Corporations Act 2001 (Cth) authorises a deed of company arrangement to provide for releases by creditors of rights against third parties and other creditors' 'Proper construction and validity of clauses 7.1, 9, and 11.5 of the deed of company arrangement' 'Whether the deed is void or should be varied if the impugned clauses are invalid']

Ratio Decidendi

It is just and convenient to order that the questions as to the construction and validity of clauses 7.1, 9, and 11.5 of the deed of company arrangement, and the breadth of powers under Pt 5.3A of the Corporations Act 2001 (Cth), be reserved for separate hearing and determination by a Full Court, as this will likely clarify core elements of the proceedings and serve the interests of prompt and efficient resolution without unduly restricting the factual inquiry necessary for such determination.

Court Disposition

Order for separate questions to be reserved for consideration by the Full Court in the original jurisdiction.

Orders

  • ['The parties to bring in short minutes at 4.15pm on 24 July 2009 to give effect to the reasons and prepare for hearing of the questions in the Full Court.']