The power of the court to amend or vary a deed of company arrangement under s 447A of the Corporations Act 2001 is well established and extends to deleting or amending provisions found to be illegal, void or unfairly prejudicial to a class of creditors. Where an administrator is compelled to seek directions by the untenable stance of a creditor on a settled legal question, costs will follow the event rather than being treated as costs in the administration.
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