26 Apr 2022
The Court approved the proposed scheme because the shareholders approved it and all preconditions set by the initial orders were satisfied, making the Scheme fair and appropriate to bind Z Energy, its shareholders and the interested parties; leave to apply for amendments was granted as a matter of discretion.
31 Mar 2022
The Court approved the proposal because the statutory voting and notice requirements were satisfied (with minor formal defects corrected under s333(6)), the proposal was accepted by the requisite majority of creditors and is objectively reasonable and beneficial to the general body of creditors as supported by the trustee's report, and there were no priority debts or other reasons making approval inexpedient under s333(3).
15 Mar 2021
Because the amended joint proposal complied with the statutory form and procedural requirements, was supported by a majority of creditors both numerically and by value, no s333(3) grounds for refusal were present, and any omission in service detail was immaterial given the improved benefit to creditors, the court approved the creditors' proposal.