Powertel Limited ACN 001 760 103 [2007] FCA 476

Powertel Limited ACN 001 760 103 [2007] FCA 476

In all of the circumstances I am satisfied that the proposed scheme is one which the Court is likely to approve, if it receives the agreement of the requisite number of members of the Company. Accordingly, orders are made to convene the meeting as sought.

Jurisdiction
Australia
Judgment Date
19 March 2007
Procedural Posture
Application for Orders Under S 411 of the Corporations Act / Interlocutory Orders for Convening Scheme Meeting
Outcome
Orders made to convene scheme meeting as sought by Powertel Limited; proceeding stood over for approval hearing.
Legal Topics
['scheme of Arrangement' 'share Acquisition' 'corporate Consolidation']
['corporations Law'] ['scheme of Arrangement' 'share Acquisition' 'corporate Consolidation']

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

Application for Orders Under S 411 of the Corporations Act / Interlocutory Orders for Convening Scheme Meeting

Legal Issues

  1. 1 ['Whether the Court should order a meeting of Powertel Limited members to consider a scheme of arrangement under s 411 of the Corporations Act' 'Whether the proposed scheme is likely to obtain court approval if shareholders agree']

Ratio Decidendi

In all of the circumstances I am satisfied that the proposed scheme is one which the Court is likely to approve, if it receives the agreement of the requisite number of members of the Company. Accordingly, orders are made to convene the meeting as sought.

Court Disposition

Orders made to convene scheme meeting as sought by Powertel Limited; proceeding stood over for approval hearing.

Orders

  • ['Plaintiff to convene meeting of members for considering scheme of arrangement as per scheme booklet.' 'Scheme meeting to be held at specified time and place; chairperson(s) appointed.' 'Scheme booklet (explanatory statement) approved for dispatch to members.' 'Proxy form and reply envelope to be included;...