Veda Advantage Limited, in the matter of Veda Advantage Limited (No 2) [2007] FCA 980

Veda Advantage Limited, in the matter of Veda Advantage Limited (No 2) [2007] FCA 980

The scheme of arrangement was approved as the required statutory majorities were obtained at the meeting, all notice and procedural requirements were complied with, and relevant regulatory authorities, including ASIC and foreign government agencies, raised no objection.

Jurisdiction
Australia
Judgment Date
22 June 2007
Procedural Posture
Corporations Scheme of Arrangement / Second Court Hearing; Application for Approval of Scheme
Outcome
Scheme of arrangement approved; orders granted as sought
Legal Topics
['scheme of Arrangement' 'shareholder Meeting' 'court Approval' 'sections 411(4)(b), 411(6), 411(12) Corporations Act 2001']
['corporations Law'] ['scheme of Arrangement' 'shareholder Meeting' 'court Approval' 'sections 411(4)(b), 411(6), 411(12) Corporations Act 2001']

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

Corporations Scheme of Arrangement / Second Court Hearing; Application for Approval of Scheme

Legal Issues

  1. 1 ['Whether the scheme of arrangement between Veda Advantage Limited and its shareholders should be approved under s 411 of the Corporations Act 2001 (Cth)' 'Whether statutory and procedural requirements for the scheme meeting and approval have been met']

Ratio Decidendi

The scheme of arrangement was approved as the required statutory majorities were obtained at the meeting, all notice and procedural requirements were complied with, and relevant regulatory authorities, including ASIC and foreign government agencies, raised no objection.

Court Disposition

Scheme of arrangement approved; orders granted as sought

Orders

  • ['Scheme of arrangement between Veda Advantage Limited and its shareholders is approved under ss 411(4)(b) and 411(6) of the Corporations Act 2001 (Cth)' 'Veda Advantage Limited exempted from compliance with s 411(11) in relation to the order' 'Exhibits be returned to the plaintiff' 'Orders be entered forthwith']