In the matter of HWW Ltd [2006] FCA 161

In the matter of HWW Ltd [2006] FCA 161

Given the evidence of regulatory compliance, expert opinion supporting the Scheme as in shareholders' best interests, and procedural safeguards in place, it is appropriate to make orders for convening the Scheme Meeting under s 411(1) of the Corporations Act 2001.

Parties
Plaintiff: HWW Limited
Jurisdiction
Australia
Judgment Date
24 February 2006
Procedural Posture
Corporations Law Application / First Court Hearing on Scheme of Arrangement
Outcome
Orders made convening a meeting of HWW Limited members to consider the Scheme.
Legal Topics
Scheme of Arrangement, Mergers and Acquisitions, Corporate Governance, Shareholder Meeting
Corporations Law Scheme of Arrangement Mergers and Acquisitions Corporate Governance Shareholder Meeting

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Parties

HWW Limited

Plaintiff

Procedural Posture

Corporations Law Application / First Court Hearing on Scheme of Arrangement

Legal Issues

  1. 1 Whether orders should be made under s 411(1) of the Corporations Act 2001 to convene a meeting of HWW Limited members to consider a proposed scheme of arrangement
  2. 2 Whether the explanatory statement in the Scheme Booklet is adequate for distribution
  3. 3 Whether compliance with certain Corporations Regulations and Listing Rules can be dispensed with for the Scheme Meeting

Ratio Decidendi

Given the evidence of regulatory compliance, expert opinion supporting the Scheme as in shareholders' best interests, and procedural safeguards in place, it is appropriate to make orders for convening the Scheme Meeting under s 411(1) of the Corporations Act 2001.

Court Disposition

Orders made convening a meeting of HWW Limited members to consider the Scheme.

Orders

  • Plaintiff to convene Scheme Meeting under s 411(1) of the Corporations Act 2001.
  • Scheme Meeting to be held on 30 March 2006 at 10.00 am at Deacons, Level 8, Gold Fields House, 1 Alfred Street, Circular Quay, Sydney.