Mogul Mining [1999] NSWSC 159

Mogul Mining [1999] NSWSC 159

The Court made the convening orders because the scheme was in most respects straightforward, with major creditors consenting, only one class of shareholders, no proposal to bind other parties such as optionholders, and no requirement for an expert's report, while noting that disclosure about Augusta could be scrutinised at the second hearing.

Jurisdiction
Australia
Judgment Date
24 February 1999
Procedural Posture
Company Members' Scheme of Arrangement Under S 411 of the Corporations Law / Application for Orders to Convene a Meeting of Members
Outcome
Orders made to convene the scheme meeting.
Legal Topics
["members' Scheme of Arrangement" 'reduction of Capital' 'disclosure for Share Consideration' 'convening Scheme Meeting']
['corporations Law' 'equity'] ["members' Scheme of Arrangement" 'reduction of Capital' 'disclosure for Share Consideration' 'convening Scheme Meeting']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 1 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Company Members' Scheme of Arrangement Under S 411 of the Corporations Law / Application for Orders to Convene a Meeting of Members

Legal Issues

  1. 1 ['Whether orders should be made to convene a meeting of members to consider a scheme of arrangement under s 411 of the Corporations Law.' 'Whether the scheme explanatory statement or notice should disclose information about Augusta to a level satisfying the disclosure standard of s 1022.']

Ratio Decidendi

The Court made the convening orders because the scheme was in most respects straightforward, with major creditors consenting, only one class of shareholders, no proposal to bind other parties such as optionholders, and no requirement for an expert's report, while noting that disclosure about Augusta could be scrutinised at the second hearing.

Court Disposition

Orders made to convene the scheme meeting.

Orders

  • ['Orders one to nine of the draft orders handed up by counsel and initialled by the Court for identification were made.']