High Court of Australia

Mighty River International Limited v Hughes [2018] HCA 38

Mighty River International Limited v Mineral Resources Limited

12 Sep 2018

Case Number: P7/2018 P8/2018

Before

Kiefel CJ, Gageler, Nettle, Gordon, Edelman JJ

Catchwords

Companies – Voluntary administration – Deed of company arrangement – Where administrator required to form opinion about certain matters as soon as practicable after administration begins – Where administrator required to convene meeting of creditors within convening period – Where convening period may be extended by court order – Where company executed deed which imposed moratorium on creditors' claims while administrators conducted further investigations – Where deed provided no property of company available for distribution to creditors – Whether deed impermissibly extended convening period – Whether administrators formed the requisite opinions – Whether deed should have specified some property available for distribution to creditors – Whether deed a valid deed of company arrangement – Whether deed should be declared void.

Words and phrases – "arrangement alternative to liquidation", "convening period", "deed of company arrangement", "DOCA", "holding DOCA", "in the interests of creditors", "moratorium on claims", "property of the company available for distribution to creditors", "to be available to pay creditors' claims", "voluntary administration".

Corporations Act 2001 (Cth) – Pt 5. 3A, ss 438A, 439A, 444A, 445G.
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