International Air Transport Association v Ansett Australia Holdings Limited

Contract – Construction - Agreements between the International Air Transport Association ("IATA") and participating airlines provided for the operation of a "Clearing House" in accordance with regulations ("the Regulations") - Pursuant to the Regulations IATA set off debits and credits that would otherwise exist between the airlines - The Regulations provided that no liability or right of action would accrue between participating airlines, including Ansett - Whether the effect of the Regulations was that IATA was the creditor of Ansett to the exclusion of other participating airlines.

Insolvency – Voluntary administration under Pt 5.3A of the Corporations Act 2001 (Cth) ("the Act") - Deed of Company Arrangement - Public policy - Whether Pt 5.3A of the Act or a rule of public policy required that the whole of the debtor's estate be available for distribution to all creditors - Whether any such rule invalidated the effect of the Regulations properly construed.

Insolvency – Voluntary administration under Pt 5.3A of the Act - Deed of Company Arrangement - Order of priorities - Relationship between contractual rights and obligations and the operation of Pt 5.3A - Whether the Regulations purported to circumvent the Deed or were otherwise repugnant to the Deed.

Corporations Act 2001 (Cth) – Pt 5.3A.