Equigold NL, In the matter of Equigold NL (No 2) [2008] FCA 826

Equigold NL, In the matter of Equigold NL (No 2) [2008] FCA 826

The Court had jurisdiction under s 1319 of the Corporations Act 2001 (Cth) to vary the orders made on 23 April 2008, and because unforeseen printing and mailing delays prevented timely dispatch, it was appropriate to vary order 1(h) so the documents could be dispatched on or before 2 May 2008, notwithstanding that...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
30 April 2008
Procedural Posture
Corporations Application Concerning a Scheme of Arrangement Under S 411(1) of the Corporations Act 2001 (cth) / Application to Vary Orders for Dispatch of Scheme Meeting Documents
Outcome
Application granted; order 1(h) of the orders made on 23 April 2008 varied.
Legal Topics
['scheme of Arrangement' 'convening Meeting of Shareholders' 'notice of Meeting' 'variation of Court Orders']
['corporations Law' 'civil Procedure'] ['scheme of Arrangement' 'convening Meeting of Shareholders' 'notice of Meeting' 'variation of Court Orders']

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Procedural Posture

Corporations Application Concerning a Scheme of Arrangement Under S 411(1) of the Corporations Act 2001 (cth) / Application to Vary Orders for Dispatch of Scheme Meeting Documents

Legal Issues

  1. 1 ['Whether the Court should vary order 1(h) of the orders made on 23 April 2008 concerning dispatch of documents to Equigold shareholders for the scheme meeting.' 'Whether the Court had jurisdiction to give directions or vary orders concerning the convening, holding or conduct of a meeting ordered under the Corporations Act 2001 (Cth).']

Ratio Decidendi

The Court had jurisdiction under s 1319 of the Corporations Act 2001 (Cth) to vary the orders made on 23 April 2008, and because unforeseen printing and mailing delays prevented timely dispatch, it was appropriate to vary order 1(h) so the documents could be dispatched on or before 2 May 2008, notwithstanding that this would give shareholders four days less than the notice period required by the Act.

Court Disposition

Application granted; order 1(h) of the orders made on 23 April 2008 varied.

Orders

  • ['Order 1(h) of the Orders made by the Court on 23 April 2008 be varied to read: "On or before 2 May 2008 there be dispatched to each Equigold Shareholder: (i) a document substantially in the form of the Scheme Booklet; (ii) a proxy form for the Scheme Meeting; and (iii) a reply paid (for use in Australia only)...