In the matter of Tassal Group Limited [2022] NSWSC 1414

In the matter of Tassal Group Limited [2022] NSWSC 1414

The scheme is fit to be submitted to meeting: requirements of s 411 of the Corporations Act 2001 (Cth) and procedural fairness are satisfied, disclosures are adequate, no reason appears that would preclude consideration and, if approved by required majorities, the scheme may be suitable for final approval.

Jurisdiction
Australia
Judgment Date
18 October 2022
Procedural Posture
Corporations – Scheme of Arrangement / First Court Hearing – Orders to Convene Scheme Meeting
Outcome
Orders made to convene scheme meeting and ancillary directions granted.
Legal Topics
['schemes of Arrangement' 'reconstruction and Mergers' 'meetings of Members' 'disclosure Requirements' 'break Fee Provisions' 'exclusivity Provisions']
['corporations Law' 'equity'] ['schemes of Arrangement' 'reconstruction and Mergers' 'meetings of Members' 'disclosure Requirements' 'break Fee Provisions' 'exclusivity Provisions']

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Procedural Posture

Corporations – Scheme of Arrangement / First Court Hearing – Orders to Convene Scheme Meeting

Legal Issues

  1. 1 ['Whether requirements to order a scheme meeting under s 411 of the Corporations Act 2001 (Cth) are satisfied' 'Whether the scheme is bona fide and properly proposed' 'Whether scheme documentation provides proper disclosure to members' 'Whether any reason precludes convening the scheme meeting']

Ratio Decidendi

The scheme is fit to be submitted to meeting: requirements of s 411 of the Corporations Act 2001 (Cth) and procedural fairness are satisfied, disclosures are adequate, no reason appears that would preclude consideration and, if approved by required majorities, the scheme may be suitable for final approval.

Court Disposition

Orders made to convene scheme meeting and ancillary directions granted.

Orders

  • ['Scheme meeting of eligible Tassal shareholders to be convened to consider, and if thought fit, approve the scheme of arrangement regarding acquisition by Aquaculture Australia Company Pty Ltd.' 'Approval of dispatch of scheme booklet and ancillary shareholder materials in the manner proposed.' 'Approval of...