QV Equities Limited, in the matter of QV Equities Limited (No 2) [2024] FCA 727

QV Equities Limited, in the matter of QV Equities Limited (No 2) [2024] FCA 727

The Court was satisfied that all statutory and procedural requirements were met, the scheme was approved by the requisite majorities, there was no evidence of unfairness or impropriety, and no objection was raised; therefore, approval of the scheme and exemption from s 411(11) was granted.

Jurisdiction
Australia
Judgment Date
04 July 2024
Procedural Posture
Corporations Scheme of Arrangement / Second Court Hearing Application for Approval of Scheme
Outcome
Scheme of arrangement approved; exemption from s 411(11) granted.
Legal Topics
['scheme of Arrangement' 'approval of Schemes' 'court Discretion' 'exemption From Compliance With S 411(11)']
['corporations Law'] ['scheme of Arrangement' 'approval of Schemes' 'court Discretion' 'exemption From Compliance With S 411(11)']

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Procedural Posture

Corporations Scheme of Arrangement / Second Court Hearing Application for Approval of Scheme

Legal Issues

  1. 1 ['Whether the Court should approve the scheme of arrangement under s 411(4)(b) of the Corporations Act 2001 (Cth)' 'Whether QV Equities Limited should be exempt from compliance with s 411(11) of the Act']

Ratio Decidendi

The Court was satisfied that all statutory and procedural requirements were met, the scheme was approved by the requisite majorities, there was no evidence of unfairness or impropriety, and no objection was raised; therefore, approval of the scheme and exemption from s 411(11) was granted.

Court Disposition

Scheme of arrangement approved; exemption from s 411(11) granted.

Orders

  • ['Scheme of arrangement between plaintiff and its shareholders approved pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth).' 'Plaintiff to lodge a sealed copy of these orders with ASIC pursuant to s 411(10).' 'Plaintiff exempted from compliance with s 411(11) pursuant to s 411(12).' 'Orders be entered...