Rebel Sport Limited, in the matter of Rebel Sport Limited (No 2) [2007] FCA 458

Rebel Sport Limited, in the matter of Rebel Sport Limited (No 2) [2007] FCA 458

The Scheme was agreed to by the required majorities and shareholders had proper opportunity to consider and vote; the Scheme was fair, reasonable, and in the best interests of shareholders. The Court approved the Scheme under s 411(4)(b) of the Corporations Act 2001 (Cth).

Jurisdiction
Australia
Judgment Date
19 March 2007
Procedural Posture
Scheme of Arrangement Approval / Second Court Hearing
Outcome
scheme approved
Legal Topics
['scheme of Arrangement' 'shareholders Meeting' 'court Approval']
['corporations Law'] ['scheme of Arrangement' 'shareholders Meeting' 'court Approval']

Case Brief

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Procedural Posture

Scheme of Arrangement Approval / Second Court Hearing

Legal Issues

  1. 1 ['Whether the scheme of arrangement between Rebel Sport Limited and its ordinary shareholders other than Excluded Shareholders should be approved by the Court']

Ratio Decidendi

The Scheme was agreed to by the required majorities and shareholders had proper opportunity to consider and vote; the Scheme was fair, reasonable, and in the best interests of shareholders. The Court approved the Scheme under s 411(4)(b) of the Corporations Act 2001 (Cth).

Court Disposition

scheme approved

Orders

  • ['The scheme of arrangement between Rebel Sport Limited and its ordinary shareholders other than Excluded Shareholders is approved pursuant to subsection 411(4)(b) of the Corporations Act 2001 (Cth).' 'The plaintiff is exempt from compliance with section 411(11) pursuant to section 411(12) of the Act in respect of...