Wednesday, April 14, 2010

New HCA Judgment

One new judgment was published today. We'll have the summary up soon but for now:

Lehman Brothers Holdings Inc v City of Swan & Ors [2010] HCA 11

I posted a few weeks ago that the High Court had made orders allowing the appeal in this case. Today they have published their reasons for doing so. The question for the Court was essentially whether a Deed of Company Arrangement can compromise debts and claims of the subject company in such a manner that it also compromises claims of the creditors against third parties. The High Court has found (French CJ, Gummow, Hayne and Kiefel JJ (Heydon J dissenting)) that it cannot, as a DoCA cannot force creditors without their consent to release third parties from claims.

[UPDATE 17/6/10: lamp post summary is now here.]

No comments:

Post a Comment

 
OUR TERMS
In case it is not abundantly clear from the context, none of what is written here should be considered legal advice or anything close to it.
The views expressed in each post are the views of the contributor who has authored that post only and should not be attributed to anyone else.
Feel free to quote or reproduce our posts for non-commercial purposes wherever you like but you need to attribute authorship. Click the CC logo to see our Creative Commons licence:

Creative Commons License