In the matter of Lend Lease Primelife Ltd; In the Matter of Lend Lease Village Responsible Entity Ltd [2009] NSWSC 1340

In the matter of Lend Lease Primelife Ltd; In the Matter of Lend Lease Village Responsible Entity Ltd [2009] NSWSC 1340

The court has the power under s 1319 of the Corporations Act to adjourn a scheme meeting previously convened under court order, as this is a consequential direction in relation to the meeting. An order adjourning the meeting does not conflict with the earlier order, and is justified to allow proper consideration of new material offers relevant to security holders' decisions.

Jurisdiction
Australia
Judgment Date
03 December 2009
Procedural Posture
Corporations Scheme of Arrangement / Application for Adjournment of Scheme Meeting After Court Order for Convening Meeting
Outcome
Order for adjournment granted
Legal Topics
['scheme of Arrangement' 'court Power to Adjourn Meeting' 'directions Under Corporations Act S 1319']
['corporations Law'] ['scheme of Arrangement' 'court Power to Adjourn Meeting' 'directions Under Corporations Act S 1319']

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Procedural Posture

Corporations Scheme of Arrangement / Application for Adjournment of Scheme Meeting After Court Order for Convening Meeting

Legal Issues

  1. 1 ['Whether the court has power to make orders adjourning or postponing a scheme meeting after it has been convened pursuant to earlier orders of the court']

Ratio Decidendi

The court has the power under s 1319 of the Corporations Act to adjourn a scheme meeting previously convened under court order, as this is a consequential direction in relation to the meeting. An order adjourning the meeting does not conflict with the earlier order, and is justified to allow proper consideration of new material offers relevant to security holders' decisions.

Court Disposition

Order for adjournment granted

Orders

  • ['Scheme meeting adjourned from 8 December 2009 to 14 December 2009.' 'Orders for supplementary disclosure and advertising made.' 'Orders vacating hearing on 11 December 2009 and setting new hearing for 15 December 2009.']