Most definitely this would be the result. The Australian Rules of Racing state:

"If a placed horse or its rider causes interference within the meaning of this Rule to another placed horse, and the stewards are of the opinion that the horse interfered with would have finished ahead of the first mentioned horse had such interference not occurred, they may place the first mentioned horse immediately after the horse interfered with. "

In other words in your example B would be relegated behind C and as D dead-heated with C, in this case B would also be placed behind it as well.

D dead-heated with C and had nothing to do with the interference nor the protest and therefore retains is dead-heat status.