Corvette Resources Limited, In the matter of Corvette Resources Limited [2010] FCA 78

Corvette Resources Limited, In the matter of Corvette Resources Limited [2010] FCA 78

The Scheme satisfies all statutory requirements, was properly approved by requisite majorities, is in good faith, for a proper purpose, and is in the best interests of scheme participants, warranting approval under s 411 of the Corporations Act 2001 (Cth).

Jurisdiction
Australia
Judgment Date
09 February 2010
Procedural Posture
Scheme of Arrangement Approval / Final Orders
Outcome
Scheme of arrangement approved.
Legal Topics
['scheme of Arrangement' 'mergers and Acquisitions']
['corporate Law'] ['scheme of Arrangement' 'mergers and Acquisitions']

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Procedural Posture

Scheme of Arrangement Approval / Final Orders

Legal Issues

  1. 1 ['Whether the proposed scheme of arrangement between Corvette Resources Limited and its members should be approved under s 411 of the Corporations Act 2001 (Cth)']

Ratio Decidendi

The Scheme satisfies all statutory requirements, was properly approved by requisite majorities, is in good faith, for a proper purpose, and is in the best interests of scheme participants, warranting approval under s 411 of the Corporations Act 2001 (Cth).

Court Disposition

Scheme of arrangement approved.

Orders

  • ["The Scheme of Arrangement between Corvette Resources Limited and its members is approved as set out in Annexure 'PBM-11' to the affidavit of Patrick Bernard McManus sworn 4 December 2009." 'The plaintiff is exempted from compliance with s 411(11) of the Act.' 'An office copy of the order to be lodged with ASIC...