In the matter of Green's Foods Limited [2007] NSWSC 43

In the matter of Green's Foods Limited [2007] NSWSC 43

The court was satisfied that the scheme could properly be put to shareholders, that the explanatory booklet met disclosure requirements, and that the payment mechanism sufficiently addressed credit risk, so orders were made to convene the scheme meeting and approve the explanatory booklet.

Source-derived case information.

Jurisdiction
Australia
Judgment Date
09 February 2007
Procedural Posture
Corporations Scheme of Arrangement / Orders Made Under S 411(1) to Convene Scheme Meeting
Outcome
Application granted; orders made for convening of shareholder meeting and related matters under s 411(1)
Legal Topics
['scheme of Arrangement' 'disclosure Requirements' 'shareholder Approval' 'credit Risk']
['corporations Law'] ['scheme of Arrangement' 'disclosure Requirements' 'shareholder Approval' 'credit Risk']

Source-derived case record

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporations Scheme of Arrangement / Orders Made Under S 411(1) to Convene Scheme Meeting

Legal Issues

  1. 1 ['Whether the scheme of arrangement meets statutory disclosure requirements under the Corporations Act 2001' 'Whether the scheme is appropriate to be put to shareholders for approval' 'Whether the scheme appropriately addresses credit risk for scheme shareholders']

Ratio Decidendi

The court was satisfied that the scheme could properly be put to shareholders, that the explanatory booklet met disclosure requirements, and that the payment mechanism sufficiently addressed credit risk, so orders were made to convene the scheme meeting and approve the explanatory booklet.

Court Disposition

Application granted; orders made for convening of shareholder meeting and related matters under s 411(1)

Orders

  • ["Order that Green's Foods Limited convene a meeting of its members to consider and if thought fit approve the Scheme of Arrangement" 'Order approving the explanatory statement (scheme booklet) as required by s 412(1)']