eircom Holdings Limited, in the matter of eircom Holdings Limited (No 2) [2009] FCA 1544

eircom Holdings Limited, in the matter of eircom Holdings Limited (No 2) [2009] FCA 1544

The scheme of arrangement was approved as all statutory requirements were met: the scheme meeting was properly convened, requisite majorities voted in favour, and ASIC did not object.

Jurisdiction
Australia
Judgment Date
21 December 2009
Procedural Posture
Scheme of Arrangement / Second Court Hearing, Approval of Scheme
Outcome
Scheme of arrangement approved and requirements of s 411(11) dispensed with
Legal Topics
['scheme of Arrangement' 'approval of Scheme' 'capital Reduction']
['corporations Law'] ['scheme of Arrangement' 'approval of Scheme' 'capital Reduction']

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Procedural Posture

Scheme of Arrangement / Second Court Hearing, Approval of Scheme

Legal Issues

  1. 1 ['Whether the scheme of arrangement between eircom Holdings Limited and its shareholders should be approved under s 411(4)(b) of the Corporations Act 2001 (Cth)' 'Whether the requirements of section 411(11) should be dispensed with']

Ratio Decidendi

The scheme of arrangement was approved as all statutory requirements were met: the scheme meeting was properly convened, requisite majorities voted in favour, and ASIC did not object.

Court Disposition

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

Orders

  • ['Pursuant to section 411(4)(b) of the Corporations Act 2001 (Cth), the scheme of arrangement between eircom Holdings Limited and its shareholders approved, excluding Emerald Communications (Cayman) SPC and any person holding shares solely on behalf of Emerald Communications (Cayman) SPC.' 'Pursuant to section...