In the matter of rhipe Limited [2021] NSWSC 1307

In the matter of rhipe Limited [2021] NSWSC 1307

Statutory and procedural requirements for scheme approval satisfied; scheme fair and reasonable, with overwhelming shareholder support and no opposition; Court exercises its discretion to approve the scheme and exempt rhipe from compliance with s 411(11).

Jurisdiction
Australia
Judgment Date
14 October 2021
Procedural Posture
Scheme of Arrangement Approval / Final Approval (second Court Hearing)
Outcome
Scheme of arrangement approved; exemption from compliance with s 411(11) granted.
Legal Topics
['schemes of Arrangement' 'arrangements and Reconstructions' 'share Acquisition']
['corporations Law'] ['schemes of Arrangement' 'arrangements and Reconstructions' 'share Acquisition']

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 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Scheme of Arrangement Approval / Final Approval (second Court Hearing)

Legal Issues

  1. 1 ['Whether the scheme of arrangement satisfies the statutory requirements for approval under s 411 of the Corporations Act 2001 (Cth)' 'Whether the scheme should be approved by the Court' 'Whether exemption from compliance with s 411(11) of the Act should be granted']

Ratio Decidendi

Statutory and procedural requirements for scheme approval satisfied; scheme fair and reasonable, with overwhelming shareholder support and no opposition; Court exercises its discretion to approve the scheme and exempt rhipe from compliance with s 411(11).

Court Disposition

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

Orders

  • ['Scheme of arrangement between rhipe Limited and its shareholders approved pursuant to ss 411(4)(b) and 411(6) of the Corporations Act 2001 (Cth).' 'rhipe Limited exempted from compliance with s 411(11) of the Corporations Act 2001 (Cth) in relation to the scheme.']