Ruralco Holdings Limited, in the matter of Ruralco Holdings Limited (No 2) [2019] FCA 1507

Ruralco Holdings Limited, in the matter of Ruralco Holdings Limited (No 2) [2019] FCA 1507

Having regard to the evidence, the role of the Court at a second court hearing and the discretionary matters commonly taken into account, it was appropriate to approve the scheme of arrangement and make the orders sought by Ruralco.

Source-derived case information.

Jurisdiction
Australia
Judgment Date
12 September 2019
Procedural Posture
Application Under S 411 of the Corporations Act 2001 (cth) to Approve a Members' Scheme of Arrangement / Second Court Hearing
Outcome
Application granted; scheme of arrangement approved.
Legal Topics
["members' Scheme of Arrangement" 'approval of Scheme of Arrangement Under S 411 of the Corporations Act 2001 (cth)']
['corporations'] ["members' Scheme of Arrangement" 'approval of Scheme of Arrangement Under S 411 of the Corporations Act 2001 (cth)']

Source-derived case record

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Procedural Posture

Application Under S 411 of the Corporations Act 2001 (cth) to Approve a Members' Scheme of Arrangement / Second Court Hearing

Legal Issues

  1. 1 ['Whether the proposed scheme of arrangement between Ruralco Holdings Limited and holders of fully paid ordinary shares in Ruralco should be approved under s 411 of the Corporations Act 2001 (Cth).' 'Whether Ruralco should be exempted from compliance with s 411(11) of the Corporations Act.']

Ratio Decidendi

Having regard to the evidence, the role of the Court at a second court hearing and the discretionary matters commonly taken into account, it was appropriate to approve the scheme of arrangement and make the orders sought by Ruralco.

Court Disposition

Application granted; scheme of arrangement approved.

Orders

  • ['Pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth), the scheme of arrangement between Ruralco Holdings Limited (ACN 009 660 879) (Ruralco) and holders of fully paid ordinary shares in Ruralco in the form set out in exhibit A be approved.' 'Pursuant to s 411(12) of the Corporations Act, Ruralco be exempted...