In the matter of APM Human Services International Limited (No 2) [2024] NSWSC 1241

In the matter of APM Human Services International Limited (No 2) [2024] NSWSC 1241

The scheme was approved because the applicant satisfied all process and disclosure requirements, the statutory majorities, and no substantial objections were raised. It was found that the scheme was fair and reasonable and appropriate for Court approval by reference to established principles and satisfactory evidence.

Parties
Plaintiff: APM Human Services International Limited; Bidder: Ancora BidCo Pty Ltd (on behalf of Bidders)
Jurisdiction
Australia
Judgment Date
03 October 2024
Procedural Posture
Scheme of Arrangement Approval / Second Court Hearing Final Approval
Outcome
Scheme of arrangement approved; other orders granted as sought
Legal Topics
Schemes of Arrangement, Reconstructions, Equity
Corporations Schemes of Arrangement Reconstructions Equity

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Parties

APM Human Services International Limited

Plaintiff

Ancora BidCo Pty Ltd (on behalf of Bidders)

Bidder

Procedural Posture

Scheme of Arrangement Approval / Second Court Hearing Final Approval

Legal Issues

  1. 1 Whether the scheme of arrangement under s 411 of the Corporations Act 2001 (Cth) should be approved
  2. 2 Whether all statutory and procedural requirements for approval have been satisfied
  3. 3 Whether the scheme is fair and reasonable for shareholders

Ratio Decidendi

The scheme was approved because the applicant satisfied all process and disclosure requirements, the statutory majorities, and no substantial objections were raised. It was found that the scheme was fair and reasonable and appropriate for Court approval by reference to established principles and satisfactory evidence.

Court Disposition

Scheme of arrangement approved; other orders granted as sought

Orders

  • Scheme of arrangement under s 411 of the Corporations Act 2001 (Cth) approved
  • Scheme amended under s 411(6) to identify Excluded Shareholders by name