Manchester Unity Australia Limited, in the matter of; application by Goaley [2008] FCA 1845

Manchester Unity Australia Limited, in the matter of; application by Goaley [2008] FCA 1845

The application meets the requirements of s 411 of the Corporations Act. The explanatory memorandum provides adequate disclosure and the scheme is one that properly informed members may reasonably agree to. There is no reason to refuse orders to convene the scheme meeting.

Source-derived case information.

Parties
Plaintiff: Robert John Goaley; Defendant: Manchester Unity Australia Limited; Other: The Hospitals Contribution Fund of Australia Limited (HCF)
Jurisdiction
Australia
Judgment Date
17 October 2008
Procedural Posture
Scheme of Arrangement Application / Interlocutory / Orders Convening Scheme Meeting
Outcome
Orders made convening meeting of members to consider the scheme of arrangement; matter stood over for approval application.
Legal Topics
Scheme of Arrangement, Demutualisation, Merger, Members' Rights, Section 411 Corporations Act, Private Health Insurance
Corporations Law Scheme of Arrangement Demutualisation Merger Members' Rights Section 411 Corporations Act Private Health Insurance

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Parties

Robert John Goaley

Plaintiff

Manchester Unity Australia Limited

Defendant

The Hospitals Contribution Fund of Australia Limited (HCF)

Other

Procedural Posture

Scheme of Arrangement Application / Interlocutory / Orders Convening Scheme Meeting

Legal Issues

  1. 1 Whether orders should be made under s 411 of the Corporations Act 2001 (Cth) to convene a meeting of members for a proposed scheme of arrangement for demutualisation and merger.

Ratio Decidendi

The application meets the requirements of s 411 of the Corporations Act. The explanatory memorandum provides adequate disclosure and the scheme is one that properly informed members may reasonably agree to. There is no reason to refuse orders to convene the scheme meeting.

Court Disposition

Orders made convening meeting of members to consider the scheme of arrangement; matter stood over for approval application.

Orders

  • Manchester Unity to convene a scheme meeting of its members pursuant to s 411(1) of the Corporations Act 2001 (Cth).
  • Meeting to be held at 2pm, 15 December 2008, following a Constitutional Change Meeting.