Where a stay of orders implementing a deed of company arrangement risks causing the DOCA to lapse by effluxion of time, the Court of Appeal may exercise power under s 447A of the Corporations Act to vary the DOCA's termination date to preserve the effective exercise of its appellate jurisdiction. Security for an undertaking as to damages in such cases should cover holding costs (care and maintenance, interest on secured debt, additional administration costs) but not payments already made under the DOCA where the variation order is designed to prevent termination.
The full text is available to signed-in members, including the 12 later cases that cite this judgment.
3 of the 12 citing cases carry a classified treatment. How each court treated it is available to signed-in members.