An applicant seeking leave under s 444E(3) of the Corporations Act 2001 (Cth) to bring an appeal against a company subject to a Deed of Company Arrangement must demonstrate a sufficiently serious question to be tried in relation to the underlying claim that the appeal is intended to advance. Where the applicant's only interest in the appeal is to preserve a claim against the company, and the underlying claim is not sufficiently arguable, there is no utility in granting leave to prosecute the appeal.
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