In the matter of Windlab Limited [2020] NSWSC 936

In the matter of Windlab Limited [2020] NSWSC 936

The scheme satisfied all procedural and statutory requirements, had overwhelming shareholder support, complied with all substantive fairness requirements and proper disclosure was made; therefore, the scheme of arrangement was approved.

Parties
Plaintiff: Windlab Limited; Acquirer: Wind Acquisition 2 Pty Ltd
Jurisdiction
Australia
Judgment Date
22 July 2020
Procedural Posture
Scheme of Arrangement Approval / Final Approval Hearing
Outcome
Scheme of arrangement approved.
Legal Topics
Schemes of Arrangement, Arrangements and Reconstructions, Corporate Reconstructions
Corporations Law Equity Schemes of Arrangement Arrangements and Reconstructions Corporate Reconstructions

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Parties

Windlab Limited

Plaintiff

Wind Acquisition 2 Pty Ltd

Acquirer

Procedural Posture

Scheme of Arrangement Approval / Final Approval Hearing

Legal Issues

  1. 1 Whether the scheme of arrangement between Windlab Limited and its shareholders should be approved under s 411(4)(b) of the Corporations Act 2001 (Cth)

Ratio Decidendi

The scheme satisfied all procedural and statutory requirements, had overwhelming shareholder support, complied with all substantive fairness requirements and proper disclosure was made; therefore, the scheme of arrangement was approved.

Court Disposition

Scheme of arrangement approved.

Orders

  • Orders made approving the scheme of arrangement under s 411(4)(b) of the Corporations Act 2001 (Cth).