In the matter of Boart Longyear Limited [2021] NSWSC 1272

In the matter of Boart Longyear Limited [2021] NSWSC 1272

The statutory and procedural requirements for approval of the redomiciliation scheme under s 411 of the Corporations Act 2001 (Cth) were satisfied, the scheme was fair and reasonable to shareholders, no third parties would be disproportionately adversely affected, and there was no objection from ASIC; the court therefore exercised its discretion to approve the scheme.

Jurisdiction
Australia
Judgment Date
06 October 2021
Procedural Posture
Application Under Corporations Act S 411 Scheme of Arrangement / Second Court Hearing for Approval of Redomiciliation Scheme
Outcome
Orders made approving the redomiciliation scheme of arrangement.
Legal Topics
['schemes of Arrangement' 'redomiciliation' 'shareholder Meetings' 'court Discretion']
['corporations Law'] ['schemes of Arrangement' 'redomiciliation' 'shareholder Meetings' 'court Discretion']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application Under Corporations Act S 411 Scheme of Arrangement / Second Court Hearing for Approval of Redomiciliation Scheme

Legal Issues

  1. 1 ['Whether relevant procedural and statutory requirements for the scheme of arrangement have been satisfied' 'Whether the court should exercise its discretion to approve the redomiciliation scheme of arrangement']

Ratio Decidendi

The statutory and procedural requirements for approval of the redomiciliation scheme under s 411 of the Corporations Act 2001 (Cth) were satisfied, the scheme was fair and reasonable to shareholders, no third parties would be disproportionately adversely affected, and there was no objection from ASIC; the court therefore exercised its discretion to approve the scheme.

Court Disposition

Orders made approving the redomiciliation scheme of arrangement.

Orders

  • ['Approval of the redomiciliation scheme of arrangement pursuant to section 411 of the Corporations Act 2001 (Cth)']