22 Jul 2021
TILT RENEWABLES LIMITED [2021] NZHC 1861
- Citation
- [2021] NZHC 1861
- Court
- High Court
The Court approved the scheme because Tilt complied with statutory procedures and initial orders, the scheme was fairly and adequately presented to and fairly represented by the voting classes, shareholder approval comfortably exceeded statutory thresholds including s236A requirements, the Takeovers Panel raised no objection, creditors would not be adversely affected and the arrangement was fair and reasonable to the classes, therefore the Court properly exercised its discretion under s236 to approve the scheme.