Wattyl Limited, in the matter of Wattyl Limited (No 2) [2010] FCA 1012

Wattyl Limited, in the matter of Wattyl Limited (No 2) [2010] FCA 1012

The Scheme of Arrangement was properly notified, approved by the statutory majority, no objection having been received, and all procedural and substantive fairness requirements under section 411(4)(b) and s 411(4)(a) of the Corporations Act 2001 (Cth) were met. The Scheme should be approved.

Jurisdiction
Australia
Judgment Date
13 September 2010
Procedural Posture
Scheme of Arrangement / Final Approval Hearing
Outcome
Scheme of Arrangement approved
Legal Topics
['scheme of Arrangement' 'procedural Fairness' 'substantive Fairness']
['corporations Law'] ['scheme of Arrangement' 'procedural Fairness' 'substantive Fairness']

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Procedural Posture

Scheme of Arrangement / Final Approval Hearing

Legal Issues

  1. 1 ['Whether the Scheme of Arrangement complies with section 411 of the Corporations Act 2001 (Cth)' 'Whether procedural and substantive fairness have been achieved in approving the Scheme']

Ratio Decidendi

The Scheme of Arrangement was properly notified, approved by the statutory majority, no objection having been received, and all procedural and substantive fairness requirements under section 411(4)(b) and s 411(4)(a) of the Corporations Act 2001 (Cth) were met. The Scheme should be approved.

Court Disposition

Scheme of Arrangement approved

Orders

  • ['Scheme of Arrangement between Wattyl Limited and its shareholders approved pursuant to sections 411(4)(b) and 411(6) of the Corporations Act 2001 (Cth)' 'Wattyl exempted from compliance with section 411(11) of the Act in relation to approval of the Scheme pursuant to section 411(12)' 'No order as to costs' 'Orders...