Mainstream Group Holdings Limited, in the matter of Mainstream Group Holdings Limited (Scheme Approval) [2021] FCA 1271

It was fair, reasonable, and bona fide to approve the scheme of arrangement as all relevant statutory and procedural requirements were met, and the minor procedural irregularity did not impact the outcome.

Jurisdiction: Australia
Judgment Date: 15 October 2021
Procedural Posture: Corporations Scheme of Arrangement Approval / Second Court Hearing (scheme Approval)
Outcome: Scheme of arrangement approved.
Legal Topics: ["members' Scheme of Arrangement" 'scheme Approval' 'takeover' 'court Approval Under S 411 of the Corporations Act 2001 (cth)']

['corporations Law'] ["members' Scheme of Arrangement" 'scheme Approval' 'takeover' 'court Approval Under S 411 of the Corporations Act 2001 (cth)']

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Procedural Posture

Corporations Scheme of Arrangement Approval / Second Court Hearing (scheme Approval)

Legal Issues

1 ['Whether the scheme of arrangement should be approved under section 411 of the Corporations Act 2001 (Cth)']

Ratio Decidendi

Court Disposition

Scheme of arrangement approved.

Orders

['Scheme of Arrangement approved between Plaintiff and its shareholders pursuant to sections 411(4)(b) and 411(6) of the Corporations Act 2001 (Cth).' 'Plaintiff to lodge a copy of approved scheme with ASIC when lodging an office copy of the orders under section 411(10).' 'Plaintiff exempted from compliance with...