Silvia administrators appointed, in the matter of FEA Plantations Ltd (subject to deed of company arrangement) (receivers appointed)

The case involves the administrators, receivers, and a growers group in relation to FEA Plantations Ltd, which was subject to a deed of company arrangement. The Growers Group and Patricia Bennett and Peachbride Pty Ltd were joined as defendants to the proceeding. The Australian Securities and Investments Commission (ASIC) was given late notice of the application and did not oppose the orders and directions sought. The legal issues before the court were whether the administrators should be granted certain orders and directions in relation to the schemes operated by FEA Plantations Ltd and whether the growers should be relieved of their obligations in relation to the rights if FEA Plantations Ltd was let off the hook.

The court found that the administrators were entitled to the orders and directions sought in relation to each scheme. The court also found that if FEA Plantations Ltd was let off the hook in relation to the rights, the growers should be relieved of their obligations in relation to the rights. The court made the orders and directions in Annexure 2 in relation to each scheme on 28 November 2013.

This decision provides clarity on the legal issues surrounding the schemes operated by FEA Plantations Ltd and the obligations of the growers in relation to the rights. The court's decision ensures that the administrators are able to take appropriate action in relation to the schemes and that the growers are not unfairly burdened with obligations if FEA Plantations Ltd is let off the hook.