Conquest Mining Limited, in the matter of Conquest Mining Limited [2011] FCA 1197

Conquest Mining Limited, in the matter of Conquest Mining Limited [2011] FCA 1197

The evidence established compliance with all procedural and substantive requirements of the relevant legislation, including proper convening of the scheme meeting, shareholder approval, dispatch of scheme materials, ASIC confirmation of no objection, and satisfaction or waiver of conditions precedent; there was no reason precluding approval of the scheme and dispensation with s 411(11).

Jurisdiction
Australia
Judgment Date
17 October 2011
Procedural Posture
Corporations – Approval of Scheme of Arrangement Under S 411 of the Corporations Act 2001 (cth) / Second Hearing for Approval of Proposed Scheme of Arrangement
Outcome
Scheme of arrangement approved and requirements of s 411(11) dispensed with.
Legal Topics
['scheme of Arrangement' 'approval Under S 411 of the Corporations Act 2001 (cth)' 'dispensation With S 411(11) Requirements']
['corporations'] ['scheme of Arrangement' 'approval Under S 411 of the Corporations Act 2001 (cth)' 'dispensation With S 411(11) Requirements']

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Procedural Posture

Corporations – Approval of Scheme of Arrangement Under S 411 of the Corporations Act 2001 (cth) / Second Hearing for Approval of Proposed Scheme of Arrangement

Legal Issues

  1. 1 ['Whether the scheme of arrangement between Conquest Mining Limited and the holders of fully-paid ordinary shares in Conquest should be approved under s 411(4)(b) of the Corporations Act 2001 (Cth).' 'Whether the requirements of s 411(11) of the Corporations Act 2001 (Cth) should be dispensed with under s 411(12).']

Ratio Decidendi

The evidence established compliance with all procedural and substantive requirements of the relevant legislation, including proper convening of the scheme meeting, shareholder approval, dispatch of scheme materials, ASIC confirmation of no objection, and satisfaction or waiver of conditions precedent; there was no reason precluding approval of the scheme and dispensation with s 411(11).

Court Disposition

Scheme of arrangement approved and requirements of s 411(11) dispensed with.

Orders

  • ["Pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth) (the Act), the scheme of arrangement between Conquest Mining Limited (ACN 009 232 277) (Conquest) and the holders of fully-paid ordinary shares in Conquest, in the form set out in annexure 'A' to these orders, be approved." 'Pursuant to s 411(12) of the...