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Category: Business
Word Count: 1360
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FCT v Dulux Holdings Pty Ltd & Orica Ltd, a case analysis

Facts
Orica Limited raised money by issuing debentures under debenture trust deeds executed in 1966 and 1970. In 1986, Orica entered into a Principal Assumption Agreement with the debenture trustee and the Melbourne Metropolitan Board of Works. Under the agreement, MMBW agreed to assume Orica¡¯s obligations to repay the principal amounts due on the debentures on their various maturity dates. The total liability assumed by MMBW was approximately $98.6 million. In return, Orica agreed to pay MM

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