RP Data Limited, in the matter of RP Data Limited [2011] FCA 228

RP Data Limited, in the matter of RP Data Limited [2011] FCA 228

The court was satisfied that all statutory requirements and procedural protections for convening a meeting under s 411(1) were met, including the bona fides of the scheme, appropriate disclosure and verification, the fairness of the proposal as supported by an independent expert’s report, and absence of any procedural or substantive barrier to granting the orders.

Parties
Plaintiff: RP Data Limited
Jurisdiction
Australia
Judgment Date
17 March 2011
Procedural Posture
Corporations Scheme of Arrangement / First Court Hearing: Application for Orders to Convene Meeting of Shareholders
Outcome
Orders made to convene a meeting of shareholders to consider and, if thought fit, approve the scheme of arrangement.
Legal Topics
Scheme of Arrangement, Court Approval of Schemes, Shareholder Meetings, Exclusivity Provisions, Proxy Voting, Independent Expert Report, Special Dividend, Disclosure Obligations Under Ex Parte Application
Corporations Law Scheme of Arrangement Court Approval of Schemes Shareholder Meetings Exclusivity Provisions Proxy Voting Independent Expert Report Special Dividend +1 more

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Parties

RP Data Limited

Plaintiff

Procedural Posture

Corporations Scheme of Arrangement / First Court Hearing: Application for Orders to Convene Meeting of Shareholders

Legal Issues

  1. 1 Whether orders should be made under s 411(1) of the Corporations Act 2001 (Cth) to convene a meeting of shareholders to consider and, if thought fit, approve a proposed scheme of arrangement

Ratio Decidendi

The court was satisfied that all statutory requirements and procedural protections for convening a meeting under s 411(1) were met, including the bona fides of the scheme, appropriate disclosure and verification, the fairness of the proposal as supported by an independent expert’s report, and absence of any procedural or substantive barrier to granting the orders.

Court Disposition

Orders made to convene a meeting of shareholders to consider and, if thought fit, approve the scheme of arrangement.

Orders

  • RP Data Limited to convene a meeting of holders of ordinary shares (excluding CoreLogic and subsidiaries) to consider and, if thought fit, agree to the scheme of arrangement as set out in Annexure "B".
  • The Scheme Meeting to be held at 10:00 am, 20 April 2011, Level 9, 70 Pitt Street, Sydney.