THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.1 - ARRANGEMENTS AND RECONSTRUCTIONS

SECTION 415A   ENFORCEMENT OF ORDERS MADE IN OTHER JURISDICTIONS  

415A(1)  [Validity of orders]  

Where:

(a)  the Federal Court makes an order under subsection 411(1) or (1A) of the Corporations Law of another jurisdiction; or

(b)  the Supreme Court of another jurisdiction makes an order under subsection 411(1) or (1A) of the Corporations Law of any jurisdiction; or

(c)  the Supreme Court of this jurisdiction makes an order under subsection 411(1) or (1A) of the Corporations Law of another jurisdiction;

the order has effect, and may be enforced in all respects, in this jurisdiction as if it were an order made under subsection 411(1) or (1A) of this Law, in relation to a Part 5.1 body, by:

(d)  if paragraph (a) applies - the Federal Court; or

(e)  if paragraph (b) or (c) applies - the Supreme Court of this jurisdiction.

415A(2)  [Effect of out-of-jurisdiction compromise or arrangement]  

A compromise or arrangement that is binding on the creditors, or a class of creditors, of a body corporate because of subsection 411(4) of the Corporations Law of another jurisdiction is also binding on the creditors of the body, or the creditors in that class, whose debts are recoverable by action in a court of this jurisdiction.