Activistic Limited, in the matter of Activistic Limited [2016] FCA 1520

Activistic Limited, in the matter of Activistic Limited [2016] FCA 1520

The Court found that the plaintiff's failure to comply with the statutory deadline was inadvertent, that the error was quickly recognised and addressed, and that no prejudice would result to any party from granting the extension. Therefore, it was appropriate to grant the extension of time for compliance.

Parties
Plaintiff: Activistic Limited
Jurisdiction
Australia
Judgment Date
09 December 2016
Procedural Posture
Corporations Application / Application for Extension of Time Under Corporations Act
Outcome
Application granted; orders made extending time for compliance.
Legal Topics
Extension of Time, Compliance With Statutory Requirements, Section 625(3)(c)(i) Corporations Act
Corporations Law Extension of Time Compliance With Statutory Requirements Section 625(3)(c)(i) Corporations Act

Case Brief

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Parties

Activistic Limited

Plaintiff

Procedural Posture

Corporations Application / Application for Extension of Time Under Corporations Act

Legal Issues

  1. 1 Whether time for compliance with s 625(3)(c)(i) of the Corporations Act 2001 (Cth) should be extended under ss 1322(4)(d) and 1325A

Ratio Decidendi

The Court found that the plaintiff's failure to comply with the statutory deadline was inadvertent, that the error was quickly recognised and addressed, and that no prejudice would result to any party from granting the extension. Therefore, it was appropriate to grant the extension of time for compliance.

Court Disposition

Application granted; orders made extending time for compliance.

Orders

  • The time for service and hearing of the application be abridged.
  • For purposes of the plaintiff's off-market takeover offer, the time for compliance with s 625(3)(c)(i) of the Corporations Act 2001 (Cth) be extended to 25 November 2016.