Perilya Limited, in the matter of Perilya Limited [2013] FCA 1159

Perilya Limited, in the matter of Perilya Limited [2013] FCA 1159

The Court was satisfied that the scheme as proposed is an arrangement within s 411, that proper disclosure has been made, that ASIC has had the opportunity to review and does not oppose, and that there is no apparent impediment to the scheme proceeding to the next stage subject to shareholder approval, thus orders...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
28 October 2013
Procedural Posture
Corporations – Scheme of Arrangement / First Hearing for Convening a Meeting Under S 411 of the Corporations Act 2001 (cth)
Outcome
Orders made convening a meeting of shareholders to consider the scheme of arrangement.
Legal Topics
['scheme of Arrangement' 'meeting of Members' 'court Approval' 'disclosure to Shareholders' 'takeovers']
['corporations Law'] ['scheme of Arrangement' 'meeting of Members' 'court Approval' 'disclosure to Shareholders' 'takeovers']

Source-derived case record

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Procedural Posture

Corporations – Scheme of Arrangement / First Hearing for Convening a Meeting Under S 411 of the Corporations Act 2001 (cth)

Legal Issues

  1. 1 ['Whether to make orders convening a meeting of members to consider a scheme of arrangement under s 411 of the Corporations Act 2001 (Cth)' 'Whether the scheme booklet provides sufficient disclosure' 'Whether there are any impediments to the scheme being ultimately approved']

Ratio Decidendi

The Court was satisfied that the scheme as proposed is an arrangement within s 411, that proper disclosure has been made, that ASIC has had the opportunity to review and does not oppose, and that there is no apparent impediment to the scheme proceeding to the next stage subject to shareholder approval, thus orders were made for the convening of a meeting.

Court Disposition

Orders made convening a meeting of shareholders to consider the scheme of arrangement.

Orders

  • ['Perilya to convene Scheme Meeting of holders of ordinary shares to consider and, if thought fit, approve the scheme of arrangement.' 'Scheme Meeting to be held on 2 December 2013 in Perth.' 'Scheme booklet explanatory statement approved for distribution to shareholders, subject to ASIC registration.' 'Documents to...