Talison Lithium Limited, in the matter of Talison Lithium Limited (No 2) [2012] FCA 1426

Talison Lithium Limited, in the matter of Talison Lithium Limited (No 2) [2012] FCA 1426

In light of the subsequent Tianqi proposal, Talison's withdrawal of its recommendation for the Rockwood schemes, the entry into a Tianqi scheme implementation agreement, and the termination agreement requiring Talison to seek appropriate Court orders for dissolution of the Rockwood schemes, the Court made the orders sought by Talison.

Jurisdiction
Australia
Judgment Date
13 December 2012
Procedural Posture
Application in Relation to Schemes of Arrangement / Application on the Papers to Vacate Previous Orders and Dismiss the Proceeding
Outcome
The proceeding was dismissed and specified orders made on 25 October 2012 were vacated.
Legal Topics
['schemes of Arrangement' 'vacating Orders' 'dismissal of Proceeding' 'scheme Implementation Agreement']
['corporations Law'] ['schemes of Arrangement' 'vacating Orders' 'dismissal of Proceeding' 'scheme Implementation Agreement']

Case Brief

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Procedural Posture

Application in Relation to Schemes of Arrangement / Application on the Papers to Vacate Previous Orders and Dismiss the Proceeding

Legal Issues

  1. 1 ['Whether orders previously made for the convening of meetings to consider schemes of arrangement should be vacated and the proceeding dismissed after Talison withdrew its recommendation of the Rockwood schemes and the Rockwood scheme implementation agreement was terminated.']

Ratio Decidendi

In light of the subsequent Tianqi proposal, Talison's withdrawal of its recommendation for the Rockwood schemes, the entry into a Tianqi scheme implementation agreement, and the termination agreement requiring Talison to seek appropriate Court orders for dissolution of the Rockwood schemes, the Court made the orders sought by Talison.

Court Disposition

The proceeding was dismissed and specified orders made on 25 October 2012 were vacated.

Orders

  • ['The orders in paras 1, 2, 4, 8, 9 and 10 made on 25 October 2012 be vacated.' 'The proceeding is dismissed.']