Bathurst Resources Limited, in the matter of Bathurst Resources Limited (No 2) [2013] FCA 622

All procedural, statutory, and fairness requirements being satisfied, and ASIC providing no objection, the scheme of arrangement is approved. Exemption from s 411(11) is granted as it serves no useful purpose.

Jurisdiction: Australia
Judgment Date: 20 June 2013
Procedural Posture: Corporations Scheme of Arrangement Application / Final Hearing for Approval of Scheme
Outcome: scheme of arrangement approved; exemption from s 411(11) granted
Legal Topics: ['scheme of Arrangement' 'court Approval Process' 'shareholder Meeting' 'asic Exemption']

['corporations Law'] ['scheme of Arrangement' 'court Approval Process' 'shareholder Meeting' 'asic Exemption']

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Procedural Posture

Corporations Scheme of Arrangement Application / Final Hearing for Approval of Scheme

Legal Issues

1 ['Whether the scheme of arrangement between Bathurst Resources Limited and its members should be approved under s 411(4)(b) of the Corporations Act 2001 (Cth)' 'Whether Bathurst Resources Limited should be exempted from compliance with s 411(11) of the Corporations Act under s 411(12)']

Ratio Decidendi

Court Disposition

scheme of arrangement approved; exemption from s 411(11) granted

Orders

['Scheme of arrangement approved pursuant to s 411(4)(b) and s 411(6) of the Corporations Act 2001 (Cth)' 'Plaintiff is exempted under s 411(12) from compliance with s 411(11)' 'Orders to be entered forthwith']