OneVue Holdings Limited, in the matter of OneVue Holdings Limited (No 2) [2020] FCA 1427

OneVue Holdings Limited, in the matter of OneVue Holdings Limited (No 2) [2020] FCA 1427

It is appropriate to adjourn the scheme meeting and approve dispatch of a supplementary explanatory statement to properly inform shareholders about the increase in scheme consideration, and the Court has discretion under ss 411(6) and 1319 of the Corporations Act to make the orders sought.

Jurisdiction
Australia
Judgment Date
01 October 2020
Procedural Posture
Corporations Scheme of Arrangement Application / Interlocutory Application for Adjournment and Supplementary Explanatory Statement
Outcome
Application granted
Legal Topics
['scheme of Arrangement' 'adjournment of Scheme Meeting' 'court Approval of Explanatory Statement' 'increase in Scheme Consideration']
['corporations Law'] ['scheme of Arrangement' 'adjournment of Scheme Meeting' 'court Approval of Explanatory Statement' 'increase in Scheme Consideration']

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 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporations Scheme of Arrangement Application / Interlocutory Application for Adjournment and Supplementary Explanatory Statement

Legal Issues

  1. 1 ['Whether the scheme meeting should be adjourned and a supplementary explanatory statement approved following an increase in scheme consideration' 'Whether the supplementary information procedures set out in the scheme booklet have been complied with' 'Whether the Court has power under s 411(6) of the Corporations Act 2001 (Cth) to approve a modification to the scheme consideration']

Ratio Decidendi

It is appropriate to adjourn the scheme meeting and approve dispatch of a supplementary explanatory statement to properly inform shareholders about the increase in scheme consideration, and the Court has discretion under ss 411(6) and 1319 of the Corporations Act to make the orders sought.

Court Disposition

Application granted

Orders

  • ['The scheme meeting scheduled for 9 October 2020 is adjourned to 21 October 2020 at 10:30am.' 'The Supplementary Scheme Booklet (Exhibit 2), including the Notice of Adjourned Scheme Meeting, is approved for distribution to shareholders.' 'The Supplementary Scheme Booklet must be dispatched by 6 October 2020 to all...