In the matter of Isentia Group Limited [2021] NSWSC 1069

In the matter of Isentia Group Limited [2021] NSWSC 1069

Statutory and procedural requirements for approval of the scheme of arrangement under s 411 of the Corporations Act 2001 (Cth) were met, the scheme was fair and reasonable, the funding conditions posed minimal practical risk, and there was no opposition or procedural irregularity warranting refusal. The scheme was approved.

Jurisdiction
Australia
Judgment Date
25 August 2021
Procedural Posture
Corporations Scheme of Arrangement / Second Court Hearing Approval of Scheme
Outcome
Orders made approving the scheme of arrangement.
Legal Topics
['schemes of Arrangement' 'arrangements and Reconstructions' 'court Approval Process']
['corporations Law' 'equity'] ['schemes of Arrangement' 'arrangements and Reconstructions' 'court Approval Process']

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Procedural Posture

Corporations Scheme of Arrangement / Second Court Hearing Approval of Scheme

Legal Issues

  1. 1 ['Whether the requirements for approval of the scheme of arrangement under s 411 of the Corporations Act 2001 (Cth) are met' 'Whether statutory and procedural requirements for the scheme were satisfied' 'Whether there is any oppression or procedural irregularity in the scheme']

Ratio Decidendi

Statutory and procedural requirements for approval of the scheme of arrangement under s 411 of the Corporations Act 2001 (Cth) were met, the scheme was fair and reasonable, the funding conditions posed minimal practical risk, and there was no opposition or procedural irregularity warranting refusal. The scheme was approved.

Court Disposition

Orders made approving the scheme of arrangement.

Orders

  • ['The scheme of arrangement is approved under s 411(4)(b) of the Corporations Act 2001 (Cth).' 'Scheme amended to identify the Excluded Shareholder by name.' 'Isentia is exempted from compliance with s 411(11) of the Act.']