In the matter of Healthia Limited [2023] NSWSC 1296

In the matter of Healthia Limited [2023] NSWSC 1296

All requirements for ordering a scheme meeting under s 411 are met. The scheme is appropriately disclosed, the statutory and regulatory requirements are complied with, and there are no elements that warrant refusal to allow members to consider the proposal. The court should convene the scheme meeting and make...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
31 October 2023
Procedural Posture
Corporations Scheme of Arrangement / Application for Orders Convening Scheme Meeting (first Court Hearing)
Outcome
Order convening scheme meeting and associated orders made.
Legal Topics
['scheme of Arrangement' 'takeovers and Reconstructions' 'company Meetings' 'section 411 Corporations Act']
['corporations Law' 'equity'] ['scheme of Arrangement' 'takeovers and Reconstructions' 'company Meetings' 'section 411 Corporations Act']

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Procedural Posture

Corporations Scheme of Arrangement / Application for Orders Convening Scheme Meeting (first Court Hearing)

Legal Issues

  1. 1 ['Whether requirements for order convening meeting under s 411 of the Corporations Act 2001 (Cth) are satisfied' 'Whether the scheme is suitable for consideration by members' 'Whether any aspects of the scheme warrant refusal to order a meeting']

Ratio Decidendi

All requirements for ordering a scheme meeting under s 411 are met. The scheme is appropriately disclosed, the statutory and regulatory requirements are complied with, and there are no elements that warrant refusal to allow members to consider the proposal. The court should convene the scheme meeting and make associated orders.

Court Disposition

Order convening scheme meeting and associated orders made.

Orders

  • ['A meeting of Healthia Limited shareholders to be convened to consider the proposed scheme of arrangement.' 'Approval of notice and scheme booklet to be sent to shareholders.' 'Dispensation from requirement for newspaper advertisement, with ASX announcement accepted.' 'Further associated administrative orders as...