Perforations are one of the recognized geometrical features that contribute to liquid redistribution in corrugated sheet packings. Our experimental study focuses on a simplified but relevant configuration: a thin liquid film flowing on either side of a vertical plate with a circular perforation. We focus on the curtain mode when the liquid fills the perforation. Confocal chromatic imaging reveals a capillary ridge upstream of the perforation, an inertial ridge downstream and a varicose capillary wave standing on the liquid curtain. We show that the wavelength is selected such that the velocity of the wave both satisfies Taylor's dispersion relation and matches the curtain local speed. We examine the effect of perforation size, supply conditions and liquid properties on the curtain transition. Lastly, we propose a simple model based on a momentum balance that describes the effect of these parameters on the Reynolds number at which curtain forms.