19 Oct 2016
RE TRUSTPOWER LTD [2016] NZHC 2499
- Citation
- [2016] NZHC 2499
- Court
- High Court
The court concluded on the evidence that the statutory and initial order requirements were satisfied, the scheme had been fairly presented, the shareholder approval was overwhelmingly in favour, regulators had no objection, financiers' arrangements remained intact, and the South Australia outage event did not materially alter the merits or viability of the demerger; accordingly the court exercised its discretion to grant final orders under s236 (and ancillary orders under s237) to effect transfers of assets, liabilities and contracts, and to direct the liquidation and in specie distribution a…
- Scheme of arrangement
- Demerger
- Transfer of assets and liabilities
- Novation vs court transfer
- Regulatory approvals (takeovers panel; electricity authority)
- Effect of operational outage on corporate transactions