Brambles Industries Ltd, in the matter of Brambles Industries Ltd and the Corporations Act 2001 (Cth) [2006] FCA 1273

Brambles Industries Ltd, in the matter of Brambles Industries Ltd and the Corporations Act 2001 (Cth) [2006] FCA 1273

Order should be made to convene a meeting of BIL shareholders to consider the proposed scheme, as the scheme and process are fair, in accordance with legal requirements, and provide adequate opportunity for shareholder approval.

Parties
Plaintiff: Brambles Industries Limited
Jurisdiction
Australia
Judgment Date
26 September 2006
Procedural Posture
Corporations Scheme of Arrangement / First Court Hearing – Orders to Convene Shareholder Meeting
Outcome
Order made to convene meeting of shareholders to consider scheme of arrangement.
Legal Topics
Schemes of Arrangement, Corporate Restructuring, Dual Listed Company Structure, Shareholder Meeting, Financial Assistance
Corporations Law Schemes of Arrangement Corporate Restructuring Dual Listed Company Structure Shareholder Meeting Financial Assistance

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Parties

Brambles Industries Limited

Plaintiff

Procedural Posture

Corporations Scheme of Arrangement / First Court Hearing – Orders to Convene Shareholder Meeting

Legal Issues

  1. 1 Whether the scheme of arrangement should be convened for shareholder approval
  2. 2 Whether the Cash Alternative process is fair and appropriate
  3. 3 The treatment of ineligible overseas shareholders under the scheme

Ratio Decidendi

Order should be made to convene a meeting of BIL shareholders to consider the proposed scheme, as the scheme and process are fair, in accordance with legal requirements, and provide adequate opportunity for shareholder approval.

Court Disposition

Order made to convene meeting of shareholders to consider scheme of arrangement.

Orders

  • BIL to convene a shareholder meeting to consider and approve (with or without modification) a scheme of arrangement.
  • Meeting to be held on 9 November 2006 at Mayfair Ballroom, Grand Hyatt Melbourne.