Challenge Bank Ltd (ACN 009 230 433) [1995] FCA 1177

Challenge Bank Ltd (ACN 009 230 433) [1995] FCA 1177

The Court is satisfied that matters under s411(2) present no inhibition to making the orders, the Australian Securities Commission has had reasonable opportunity to examine and make submissions, has not opposed the application, and appropriate amendments have been made to the scheme. Therefore, the schemes are in a form suitable for consideration at the relevant meetings.

Jurisdiction
Australia
Judgment Date
13 October 1995
Procedural Posture
Application / Hearing
Outcome
Application granted
Legal Topics
['compromises and Arrangements' 'schemes of Arrangement' 'convene Meetings of Shareholders and Noteholders']
['corporations'] ['compromises and Arrangements' 'schemes of Arrangement' 'convene Meetings of Shareholders and Noteholders']

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Procedural Posture

Application / Hearing

Legal Issues

  1. 1 ['Whether the Court should order the convening of meetings of shareholders, convertible note-holders and option-holders to consider various schemes of arrangement under s411(1) of the Corporations Law']

Ratio Decidendi

The Court is satisfied that matters under s411(2) present no inhibition to making the orders, the Australian Securities Commission has had reasonable opportunity to examine and make submissions, has not opposed the application, and appropriate amendments have been made to the scheme. Therefore, the schemes are in a form suitable for consideration at the relevant meetings.

Court Disposition

Application granted

Orders

  • ['Orders made in terms of the minute of the applicant as amended in handwriting in paragraph 4 and paragraph 14 and with the addition of paragraph 15, initialled for identification.']