Talison Lithium Limited, in the matter of Talison Lithium Limited [2012] FCA 1422

Talison Lithium Limited, in the matter of Talison Lithium Limited [2012] FCA 1422

The court is satisfied that the proposed schemes of arrangement fall within the statutory meaning of arrangement, relevant disclosures and regulatory requirements have been met, scheme features are not objectionable or contrary to the Act, and the orders for convening meetings are appropriate.

Jurisdiction
Australia
Judgment Date
25 October 2012
Procedural Posture
Application Under Corporations Act for Schemes of Arrangement / First Hearing, Orders for Convening Meetings
Outcome
Orders made for convening scheme meetings and related procedures
Legal Topics
['schemes of Arrangement' 'shareholder Meetings' 'option Holder Meetings' 'financial Assistance' 'related Party Benefits' 'break Fee Provisions']
['corporations Law'] ['schemes of Arrangement' 'shareholder Meetings' 'option Holder Meetings' 'financial Assistance' 'related Party Benefits' 'break Fee Provisions']

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 1 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application Under Corporations Act for Schemes of Arrangement / First Hearing, Orders for Convening Meetings

Legal Issues

  1. 1 ['Whether the proposed schemes of arrangement fall within the statutory concept of arrangement under the Corporations Act' "Whether regulatory requirements for convening meetings are met including ASIC's role and disclosure" 'Whether scheme features such as exclusivity arrangements, break fee, and related party benefits are permissible under the Act' 'Whether the schemes are fair and reasonable']

Ratio Decidendi

The court is satisfied that the proposed schemes of arrangement fall within the statutory meaning of arrangement, relevant disclosures and regulatory requirements have been met, scheme features are not objectionable or contrary to the Act, and the orders for convening meetings are appropriate.

Court Disposition

Orders made for convening scheme meetings and related procedures

Orders

  • ['Talison Lithium Limited to convene Share Scheme Meeting and Option Scheme Meeting for shareholders and option holders as specified.' 'Scheme Booklet explanatory statement approved for distribution.' 'Orders for notices, proxy arrangements, mailing methodology, voting procedures, adjournments, and publication of...