Macquarie Bank Limited ACN 008 583 542 No 2, in the matter of Macquarie Bank Limited ACN 008 583 542 [2007] FCA 1665

Macquarie Bank Limited ACN 008 583 542 No 2, in the matter of Macquarie Bank Limited ACN 008 583 542 [2007] FCA 1665

The Court, having found that the schemes of arrangement were overwhelmingly agreed to by shareholders and optionholders, that all statutory and procedural requirements were satisfied or appropriately remedied, and that no injustice was occasioned by minor irregularities, approved the schemes pursuant to section 411 of the Corporations Act 2001 (Cth).

Jurisdiction
Australia
Judgment Date
29 October 2007
Procedural Posture
Scheme of Arrangement Application / Final Approval Hearing
Outcome
Schemes of arrangement approved.
Legal Topics
['schemes of Arrangement' 'company Restructuring' 'member and Creditor Meetings' 'capital Reduction']
['corporations Law' 'equity'] ['schemes of Arrangement' 'company Restructuring' 'member and Creditor Meetings' 'capital Reduction']

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Procedural Posture

Scheme of Arrangement Application / Final Approval Hearing

Legal Issues

  1. 1 ['Approval of schemes of arrangement under section 411 of the Corporations Act 2001 (Cth)' 'Compliance with statutory requirements for member and optionholder meetings' 'Whether the schemes are fair and reasonable' 'Effect of procedural irregularities']

Ratio Decidendi

The Court, having found that the schemes of arrangement were overwhelmingly agreed to by shareholders and optionholders, that all statutory and procedural requirements were satisfied or appropriately remedied, and that no injustice was occasioned by minor irregularities, approved the schemes pursuant to section 411 of the Corporations Act 2001 (Cth).

Court Disposition

Schemes of arrangement approved.

Orders

  • ['The scheme of arrangement between the plaintiff and members holding ordinary shares is approved.' 'The scheme of arrangement between the plaintiff and creditors (optionholders) is approved.' 'The plaintiff is exempt from compliance with section 411(11) of the Corporations Act 2001 (Cth) in respect of the schemes.'...