Promina Group Limited, in the matter of Promina Group Limited [2006] FCA 1772

Promina Group Limited, in the matter of Promina Group Limited [2006] FCA 1772

The Court was satisfied that the proposed scheme of arrangement, including the procedural and statutory compliance, structure of the scheme, and disclosures in the Scheme Booklet, justified convening a meeting of shareholders as required under s 411 of the Corporations Act 2001 (Cth).

Parties
Plaintiff: Promina Group Limited; Other: Suncorp-Metway Limited
Jurisdiction
Australia
Judgment Date
18 December 2006
Procedural Posture
Corporations Scheme of Arrangement / Application for Orders Convening Scheme Meeting
Outcome
Orders made convening scheme meeting.
Legal Topics
Scheme of Arrangement, Share Acquisition, Statutory Compliance
Corporations Law Scheme of Arrangement Share Acquisition Statutory Compliance

Case Brief

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Parties

Promina Group Limited

Plaintiff

Suncorp-Metway Limited

Other

Procedural Posture

Corporations Scheme of Arrangement / Application for Orders Convening Scheme Meeting

Legal Issues

  1. 1 Whether the scheme meeting should be convened under s 411 of the Corporations Act 2001 (Cth)
  2. 2 Whether statutory formalities and procedural requirements are complied with for the proposed scheme

Ratio Decidendi

The Court was satisfied that the proposed scheme of arrangement, including the procedural and statutory compliance, structure of the scheme, and disclosures in the Scheme Booklet, justified convening a meeting of shareholders as required under s 411 of the Corporations Act 2001 (Cth).

Court Disposition

Orders made convening scheme meeting.

Orders

  • Meeting of Promina shareholders convened under s 411 of the Corporations Act 2001 (Cth) to consider the scheme of arrangement.