In the matter of McConnell Dowell Corporation Ltd [2003] FCA 646

In the matter of McConnell Dowell Corporation Ltd [2003] FCA 646

The Court was satisfied that the evidence established the necessary pre-conditions for convening orders under s 411(1), and that it was not necessary or appropriate at this stage to reach a final view on whether the proposed transaction was an arrangement within s 411(1); the orders convening the meetings should...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
13 June 2003
Procedural Posture
Application Under S 411(1) of the Corporations Act 2001 (cth) for Orders Convening Scheme Meetings / First Court Hearing for Convening Meetings
Outcome
Orders made convening meetings of shareholders and optionholders; application stood over to 1 August 2003 with liberty to restore on three days' notice.
Legal Topics
['scheme of Arrangement' 'convening Meetings Under S 411(1)' 'shareholders' 'optionholders']
['corporations Law'] ['scheme of Arrangement' 'convening Meetings Under S 411(1)' 'shareholders' 'optionholders']

Source-derived case record

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Procedural Posture

Application Under S 411(1) of the Corporations Act 2001 (cth) for Orders Convening Scheme Meetings / First Court Hearing for Convening Meetings

Legal Issues

  1. 1 ['Whether the evidence established the pre-conditions necessary for orders convening separate meetings of shareholders and optionholders under s 411(1) of the Corporations Act 2001 (Cth).' 'Whether a transaction involving transfer of shares by minority shareholders to the present major shareholder for stated consideration could properly be described as an arrangement between the plaintiff and its members within the meaning of s 411(1) of the Corporations Act 2001 (Cth).']

Ratio Decidendi

The Court was satisfied that the evidence established the necessary pre-conditions for convening orders under s 411(1), and that it was not necessary or appropriate at this stage to reach a final view on whether the proposed transaction was an arrangement within s 411(1); the orders convening the meetings should therefore be made.

Court Disposition

Orders made convening meetings of shareholders and optionholders; application stood over to 1 August 2003 with liberty to restore on three days' notice.

Orders

  • ['Pursuant to s 411(1) of the Corporations Act 2001 (Cth), the plaintiff convene a meeting of shareholders and a meeting of optionholders for the purpose of considering and, if thought fit, agreeing to the proposed schemes of arrangement.' 'The Meeting of Shareholders be convened on 25 July 2003 at Clarion Hotel on...