Onthehouse Holdings Limited, in the matter of Onthehouse Holdings Limited (No 2) [2016] FCA 1242

Onthehouse Holdings Limited, in the matter of Onthehouse Holdings Limited (No 2) [2016] FCA 1242

The scheme was approved because all statutory and procedural requirements were met, including adequate disclosure, substantial shareholder support, ASIC non-objection, and the Court was satisfied the scheme was fair and reasonable to shareholders other than the excluded party; no opposition was received.

Jurisdiction
Australia
Judgment Date
19 October 2016
Procedural Posture
Corporations – Scheme of Arrangement / Second Court Hearing for Approval of Scheme Under S 411(4)(b) Corporations Act 2001 (cth)
Outcome
Scheme approved; exemption granted
Legal Topics
['scheme of Arrangement' 'court Approval of Schemes' 'shareholder Meeting Procedure' 'exemption Under S 411(12)']
['corporations Law'] ['scheme of Arrangement' 'court Approval of Schemes' 'shareholder Meeting Procedure' 'exemption Under S 411(12)']

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 / Second Court Hearing for Approval of Scheme Under S 411(4)(b) Corporations Act 2001 (cth)

Legal Issues

  1. 1 ['Whether the scheme of arrangement between Onthehouse Holdings Limited and holders of fully paid ordinary shares (excluding 77 Victoria Street Venture Pty Limited) should be approved under s 411(4)(b)' 'Whether OTH should be exempted from compliance with s 411(11) under s 411(12)' 'Whether statutory and procedural requirements have been satisfied for scheme approval']

Ratio Decidendi

The scheme was approved because all statutory and procedural requirements were met, including adequate disclosure, substantial shareholder support, ASIC non-objection, and the Court was satisfied the scheme was fair and reasonable to shareholders other than the excluded party; no opposition was received.

Court Disposition

Scheme approved; exemption granted

Orders

  • ['Approval of the scheme of arrangement under s 411(4)(b) of the Corporations Act 2001 (Cth) between Onthehouse Holdings Limited and holders of fully paid ordinary shares (excluding those held by or on behalf of 77 Victoria Street Venture Pty Limited as trustee for 77 Victoria Street Trust).' 'Exemption from...