7 Dec 2016
In the matter of TENON LIMITED [2016] NZHC 2947
- Citation
- [2016] NZHC 2947
- Court
- High Court
The Court granted approval under s236 because Tenon complied with procedural requirements, the proposed arrangement was overwhelmingly approved by shareholders, no creditors or employees would be prejudiced, the directors certified post-implementation solvency, and the pro rata cancellation fairly and equitably returns capital to all shareholders.