Dominion Mining Limited, in the matter of Dominion Mining Limited [2010] FCA 1504

Dominion Mining Limited, in the matter of Dominion Mining Limited [2010] FCA 1504

All formal and procedural requirements for convening meetings under s 411(1) are satisfied; the proposed scheme booklet sufficiently informs affected parties; the terms of the schemes, including exclusivity and break fee provisions, are commercially reasonable and consistent with market practice; meetings of Dominion Mining shareholders and option holders should be convened to consider the proposed arrangements.

Jurisdiction
Australia
Judgment Date
16 December 2010
Procedural Posture
Scheme of Arrangement / Hearing for Orders to Convene Meetings Under S 411(1) Corporations Act
Outcome
Application granted; meetings to be convened.
Legal Topics
['scheme of Arrangement' "members' and Creditors' Meetings" 'shareholder Arrangements' 'optionholder Arrangements']
['corporations Law'] ['scheme of Arrangement' "members' and Creditors' Meetings" 'shareholder Arrangements' 'optionholder Arrangements']

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Procedural Posture

Scheme of Arrangement / Hearing for Orders to Convene Meetings Under S 411(1) Corporations Act

Legal Issues

  1. 1 ['Should meetings of Dominion Mining Limited shareholders and option holders be convened to consider the proposed schemes of arrangement under section 411(1) of the Corporations Act 2001?' 'Are the prerequisites for convening the meetings under s 411(1) satisfied?' 'Is the scheme booklet sufficient to inform affected parties?' 'Are the terms of the schemes fair, reasonable, and consistent with legal requirements?']

Ratio Decidendi

All formal and procedural requirements for convening meetings under s 411(1) are satisfied; the proposed scheme booklet sufficiently informs affected parties; the terms of the schemes, including exclusivity and break fee provisions, are commercially reasonable and consistent with market practice; meetings of Dominion Mining shareholders and option holders should be convened to consider the proposed arrangements.

Court Disposition

Application granted; meetings to be convened.

Orders

  • ['Order for convening Share Scheme Meeting and Option Scheme Meeting under section 411(1) Corporations Act 2001.' 'Meetings scheduled for 2 February 2011 at Metcalfe Auditorium, State Library of NSW, Sydney.' 'Approval of scheme booklet and associated documents for despatch to shareholders and option holders.'...