27 Mar 2019
Re. Methven Limited [2019] NZHC 608
- Citation
- [2019] NZHC 608
- Court
- High Court
The Court ordered the Part 15 scheme binding because statutory requirements were satisfied, the requisite shareholder majorities approved the arrangement, the Takeovers Panel raised no objection, the arrangement was found to be fair and equitable (including a 45% premium) and no prejudice to shareholders or creditors was identified, and procedural protections were observed.