Endocoal Limited, in the matter of Endocoal Limited (No 2) [2013] FCA 412

The Court was satisfied all statutory and procedural requirements for approval of the scheme were met, that the conditions precedent (apart from the Court's approval) were satisfied, no objections were lodged, and the scheme was fair and reasonable to shareholders. Therefore, approval was granted.

Parties: Plaintiff: Endocoal Limited (ACN 132 183 281)
Jurisdiction: Australia
Judgment Date: 09 May 2013
Procedural Posture: Corporate Scheme of Arrangement Approval / Second Hearing; Approval
Outcome: Scheme of arrangement approved.
Legal Topics: Scheme of Arrangement, Approval Process

Corporations Law Scheme of Arrangement Approval Process

Case Brief

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Parties

Endocoal Limited (ACN 132 183 281)

Plaintiff

Procedural Posture

Corporate Scheme of Arrangement Approval / Second Hearing; Approval

Legal Issues

1 Whether all procedural and substantive requirements for approval of the scheme of arrangement under s 411 of the Corporations Act 2001 (Cth) were satisfied
2 Whether the scheme should be approved by the court

Ratio Decidendi

Court Disposition

Scheme of arrangement approved.

Orders

Scheme of arrangement between Endocoal Limited and holders of fully paid ordinary shares approved pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth).
Plaintiff to lodge a copy of the approved scheme with ASIC at the time of lodging a copy of the orders.