I have very grave concerns about this wording in Clause 16 of the
Deeds (both are identical).

It says:

----
16. Application of prescribed provisions

16.1 For the purposes of this Deed, clause 2 of the Prescribed
Provisions in Schedule 8A of the Corporations Regulations shall form
part of this Deed. Otherwise the Prescribed Provisions are excluded
from this Deed.

16.2 The terms of this Deed shall prevail to the extent of any
inconsistency between this Deed and the provisons of Schedule 8A of
the Corporations Regulations.
-----

Schedule 8A (which I thought was compulsory for a Deed of Company
Arrangement) deals with the priority of Creditors (in tandem with sec
556 & 560).

Perhaps someone with a more legal background could enlighten us with
what's going on?

Nick