Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Mercantile Mutual Insurance (Australia) Limited [2002] FCA 1632
CORPORATIONS – solvent schemes of arrangement proposed in England for Australian insurance company and four related Dutch insurance companies in combination – schemes designed to accelerate crystallisation and satisfaction of reinsurance claims – order previously made in Australia for scheme meeting of Australian company to be held in London in combination with scheme meetings of the Dutch companies– alterations made to scheme for Australian insurance company prior to dispatch to potential reinsurance claimants – each scheme meeting for each insurance company held separately in London – resolutions separately passed in relation to each respective scheme – subsequent approval by this Court of the scheme involving Australian insurance company – leave granted for administration of Australian Scheme in London. Corporations Act 2001 (Cth) ss 411 and 1322 Companies Act 1985 (UK) s 425
Re Mercantile Mutual Insurance (Australia) Ltd (2002) 43 ACSR 128 cited Chief Commissioner of Pay-Roll Tax v Group Four Industries Pty Ltd [1984] 1 NSWLR 680 cited Re NRMA Ltd (2000) 33 ACSR 595 referred to Australian Co-operative Foods Ltd (2001) 38 ACSR 71 referred to N 3052 of 2002 CONTI J 24 DECEMBER 2002 SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY N 3052 OF 2002
IN THE MATTER OF MERCANTILE MUTUAL INSURANCE (AUSTRALIA) LIMITED
MERCANTILE MUTUAL INSURANCE (AUSTRALIA) LIMITED ACN 35 000 456 799
APPLICANT
JUDGE: CONTI J
DATE OF ORDER: 20 DECEMBER 2002
WHERE MADE: SYDNEY
THE COURT ORDERS THAT: 1. Pursuant to section 411(4)(b) of the Corporations Act, the Scheme of Arrangement, which is annexed to the orders and marked "A", be approved. 2. Pursuant to section 411(12) of the Corporations Act, the Applicant be exempted from compliance with section 411(11) of the Corporations Act. 3. Pursuant to section 411(7) of the Corporations Act, to the extent necessary, leave be granted to Andrew Crouchman, Thomas Bond, Peter Matthews, Craig Kline and Anton Eisdel, to administer the Scheme of Arrangement. 4. These orders be entered forthwith.
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate