RP Data Limited, in the matter of RP Data Limited (No 2) [2011] FCA 468

RP Data Limited, in the matter of RP Data Limited (No 2) [2011] FCA 468

The scheme of arrangement was properly disclosed, approved by requisite shareholder majorities, satisfied statutory requirements, and was fair and reasonable to scheme shareholders; amendment clarifying the acquiring entity was permitted as it did not affect any other aspect of the scheme.

Jurisdiction
Australia
Judgment Date
05 May 2011
Procedural Posture
Scheme of Arrangement / Application for Approval of Scheme After Shareholders' Vote
Outcome
scheme of arrangement approved and amendment to definition of acquiring entity approved
Legal Topics
['scheme of Arrangement' 'approval of Scheme' 'special Dividend' 'acquiring Entity Clarification']
['corporations Law'] ['scheme of Arrangement' 'approval of Scheme' 'special Dividend' 'acquiring Entity Clarification']

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Procedural Posture

Scheme of Arrangement / Application for Approval of Scheme After Shareholders' Vote

Legal Issues

  1. 1 ['Whether the scheme of arrangement has been fairly and fully presented to members to enable an informed decision' 'Whether the requirements of the Corporations Act 2001 (Cth) s 411(4)(b) and s 411(6) are satisfied for approval of the scheme or its amendment' 'Whether the requirements of s 254T regarding declaration of special dividend are met']

Ratio Decidendi

The scheme of arrangement was properly disclosed, approved by requisite shareholder majorities, satisfied statutory requirements, and was fair and reasonable to scheme shareholders; amendment clarifying the acquiring entity was permitted as it did not affect any other aspect of the scheme.

Court Disposition

scheme of arrangement approved and amendment to definition of acquiring entity approved

Orders

  • ["Court approves scheme of arrangement between RP Data Limited and scheme shareholders pursuant to ss 411(4)(b) and 411(6), subject to alteration replacing definition of 'Bidco' with 'CoreLogic Australia Pty Ltd' in Annexure 'A'." 'Exemption from compliance with s 411(11) in relation to Order 1 pursuant to s...