SFE Corporation Limited, in the matter of SFE Corporation Limited [2006] FCA 912

SFE Corporation Limited, in the matter of SFE Corporation Limited [2006] FCA 912

The scheme was approved because the evidence satisfied the Court that the members' meeting had been duly convened, the proposed transaction received strong approval at the meeting, there was no opposition, no barrier to approval was identified, and there was evidence of capacity and willingness to meet the obligations undertaken.

Jurisdiction
Australia
Judgment Date
07 July 2006
Procedural Posture
Corporations Law – Scheme of Arrangement / Application for Approval of Scheme of Arrangement After Members' Meeting Convened Under S 411(1)
Outcome
Scheme of arrangement approved and exemption from compliance with subsection 411(11) of the Corporations Act granted.
Legal Topics
['scheme of Arrangement' 'approval of Scheme' 'exemption From Compliance With Subsection 411(11) of the Corporations Act']
['corporations Law'] ['scheme of Arrangement' 'approval of Scheme' 'exemption From Compliance With Subsection 411(11) of the Corporations Act']

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

Corporations Law – Scheme of Arrangement / Application for Approval of Scheme of Arrangement After Members' Meeting Convened Under S 411(1)

Legal Issues

  1. 1 ['Whether the scheme of arrangement should be approved.' 'Whether the Plaintiff should be exempt from compliance with subsection 411(11) of the Corporations Act.']

Ratio Decidendi

The scheme was approved because the evidence satisfied the Court that the members' meeting had been duly convened, the proposed transaction received strong approval at the meeting, there was no opposition, no barrier to approval was identified, and there was evidence of capacity and willingness to meet the obligations undertaken.

Court Disposition

Scheme of arrangement approved and exemption from compliance with subsection 411(11) of the Corporations Act granted.

Orders

  • ['The scheme of arrangement which is attached to these orders is approved.' 'Pursuant to subsection 411(12) of the Corporations Act, the Plaintiff is exempt from compliance with subsection 411(11) of the Corporations Act.']