Colonial First State Private Capital Limited, in the matter of Colonial First State Private Capital Limited (No 2) [2007] FCA 1986

Colonial First State Private Capital Limited, in the matter of Colonial First State Private Capital Limited (No 2) [2007] FCA 1986

In light of the satisfaction of statutory requirements—including shareholder approval, ASIC's non-objection, fulfillment of all conditions precedent, and no opposition from members or creditors—the Court approved the scheme of arrangement under s 411(4)(b) of the Act and granted an exemption from compliance with s 411(11) pursuant to s 411(12).

Jurisdiction
Australia
Judgment Date
13 December 2007
Procedural Posture
Scheme of Arrangement / Final Court Approval (second Court Hearing)
Outcome
Scheme of arrangement approved; compliance with section 411(11) exempted
Legal Topics
['scheme of Arrangement' 'share Acquisition' 'court Approval Under Corporations Act S 411']
['corporations Law'] ['scheme of Arrangement' 'share Acquisition' 'court Approval Under Corporations Act S 411']

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Procedural Posture

Scheme of Arrangement / Final Court Approval (second Court Hearing)

Legal Issues

  1. 1 ['Whether the scheme of arrangement between the plaintiff and its ordinary shareholders should be approved under s 411(4)(b) of the Corporations Act 2001 (Cth)' 'Whether an exemption from compliance with s 411(11) of the Corporations Act should be granted']

Ratio Decidendi

In light of the satisfaction of statutory requirements—including shareholder approval, ASIC's non-objection, fulfillment of all conditions precedent, and no opposition from members or creditors—the Court approved the scheme of arrangement under s 411(4)(b) of the Act and granted an exemption from compliance with s 411(11) pursuant to s 411(12).

Court Disposition

Scheme of arrangement approved; compliance with section 411(11) exempted

Orders

  • ['Pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth), the scheme of arrangement between the Plaintiff and its ordinary shareholders is approved.' 'Pursuant to s 411(12) of the Corporations Act 2001 (Cth), the Plaintiff is exempted from compliance with s 411(11) of the Corporations Act in relation to the...