Think Childcare Limited, in the matter of Think Childcare Limited (No 2) [2019] FCA 2181

Think Childcare Limited, in the matter of Think Childcare Limited (No 2) [2019] FCA 2181

The scheme of arrangement was approved because all statutory and procedural requirements were satisfied or validated, the scheme was fair and reasonable, there was full disclosure, no opposition or competing proposal, and no substantial injustice arose from procedural irregularity.

Parties
Plaintiff: Think Childcare Limited
Jurisdiction
Australia
Judgment Date
12 December 2019
Procedural Posture
Application for Approval of Scheme of Arrangement / Second Court Hearing
Outcome
scheme of arrangement approved
Legal Topics
Scheme of Arrangement, Approval of Scheme, Procedural Irregularity, Statutory Compliance
Corporations Law Scheme of Arrangement Approval of Scheme Procedural Irregularity Statutory Compliance

Case Brief

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Parties

Think Childcare Limited

Plaintiff

Procedural Posture

Application for Approval of Scheme of Arrangement / Second Court Hearing

Legal Issues

  1. 1 whether the scheme of arrangement should be approved under s 411 of the Corporations Act 2001 (Cth)
  2. 2 effect of procedural irregularity relating to late lodgement of proxy form

Ratio Decidendi

The scheme of arrangement was approved because all statutory and procedural requirements were satisfied or validated, the scheme was fair and reasonable, there was full disclosure, no opposition or competing proposal, and no substantial injustice arose from procedural irregularity.

Court Disposition

scheme of arrangement approved

Orders

  • Pursuant to subs 411(4)(b) of the Corporations Act 2001 (Cth), the Scheme of Arrangement between the plaintiff and its members agreed to at the meeting held on 5 December 2019 be approved.
  • Pursuant to subs 411(12), the plaintiff exempted from compliance with subs 411(11) in relation to the Scheme.