216. Deed review hearing

if the creditors, by the requisite majorities, approves a proposed deed of company arrangement by resolution, even if its terms are different from those set out in the administrator’s statement referred to in paragraph (d) of subsection (7) of section 215 –

promptly apply to the court for a deed review hearing; or

notwithstanding the approval, if the administrator considers that the proposed deed is fundamentally inconsistent with furthering the achievement of the administrator’s objective referred to in paragraph (d) of section 178, with immediate effect pursue the standard route in lieu of the expedited route and convene an outcome meeting; or

if the creditors, by the requisite majorities, do not approve a proposed deed of company arrangement by resolution –

with immediate effect pursue the standard route in lieu of the expedited route; and

convene an outcome meeting.

copies of the interests statement with respect to the administrator tabled at the combined initial and outcome meeting;

if the proposed deed administrator is not the administrator, the copies of the interests statement with respect to the deed administrator tabled at the combined initial and outcome meeting or other meeting of creditors;

if the administrator seeks the payment of any unpaid pre-administration costs,copies of the statement of pre-administration costs tabled at the combined initial and outcome meeting;

copies of the documents enclosed with the notice of the combined initial and outcome meeting under subsection (7) of section 215;

copies of the minutes of the combined initial and outcome meeting; and

copies of such other information as may be prescribed.

where the court is satisfied that the proposed deed of company arrangement would, if it were to take effect, comply with the requirements in section 223, the court shall order that the proposed deed be binding;

where the court is not satisfied that the proposed deed of company arrangement would, if it were to take effect, comply with the requirements in section 223, the court shall make such order as may be necessary, taking appropriate account of the views of the creditors representing the requisite majority .

impose any term or condition; and

make any other ancillary order.

give written notice of the order to as many of the company’s creditors as is reasonably practicable;

give public notice of the order and send a copy of the notice referred to in paragraph (a) to the

on the day on which, and at the time at which, the order is made; or

on such other day, and at such other time, as the court may order.