WCM Global Long Short Limited, in the matter of WCM Global Long Short Limited (No 2) [2022] FCA 1552

WCM Global Long Short Limited, in the matter of WCM Global Long Short Limited (No 2) [2022] FCA 1552

The scheme of arrangement was approved because all statutory conditions and procedural requirements were satisfied, the scheme was considered fair and reasonable based on an independent expert's report and member approval, there was full disclosure, no evidence of oppression or improper conduct, and the scheme was not contrary to public policy.

Jurisdiction
Australia
Judgment Date
16 December 2022
Procedural Posture
Scheme of Arrangement / Second Court Hearing
Outcome
Scheme of arrangement approved
Legal Topics
['scheme of Arrangement' 'court Approval of Scheme' 'corporate Disclosure' 'shareholder Voting']
['corporations Law'] ['scheme of Arrangement' 'court Approval of Scheme' 'corporate Disclosure' 'shareholder Voting']

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Procedural Posture

Scheme of Arrangement / Second Court Hearing

Legal Issues

  1. 1 ['Whether the scheme of arrangement between WCM Global Long Short Limited and its members should be approved by the Court pursuant to s 411(4)(b) and s 411(6) of the Corporations Act 2001 (Cth)']

Ratio Decidendi

The scheme of arrangement was approved because all statutory conditions and procedural requirements were satisfied, the scheme was considered fair and reasonable based on an independent expert's report and member approval, there was full disclosure, no evidence of oppression or improper conduct, and the scheme was not contrary to public policy.

Court Disposition

Scheme of arrangement approved

Orders

  • ['Approval of the scheme of arrangement pursuant to subs 411(4)(b) and 411(6) of the Corporations Act 2001 (Cth)' 'Order for plaintiff to lodge approved Scheme with Australian Securities and Investments Commission at the time of lodging a copy of these Orders' 'Exemption for plaintiff from compliance with subs...