Takeovers Panel v Glencore International AG [2005] FCA 1628

FEDERAL COURT OF AUSTRALIA

Takeovers Panel v Glencore International AG [2005] FCA 1628 CORPORATIONS – Takeovers Panel – declaration of unacceptable circumstances – internal review – power to extend time

Corporations Act 2001 (Cth) ss 70, 657A, 657B, 657EA David Grant & Co Pty Limited (Receiver Appointed) v Westpac Banking Corporation (1995) 184 CLR 265 distinguished Drake v Minister for Immigration and Ethnic Affairs (1979) 24 ALR 577 cited R v Whitehead [1982] QB 1272 cited Strange-Muir v Corrective Services Commission of New South Wales [1986] 5 NSWLR 234 cited The Hospital Benefit Fund of Western Australia Inc v Minister for Health, Housing and Community Services (1992) 39 FCR 225 cited

TAKEOVERS PANEL v GLENCORE INTERNATIONAL AG, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRAL COAL LIMITED,

FORNAX INVESTMENTS LTD, ABN AMRO BANK NV, CENTENNIAL COAL COMPANY LTD and CREDIT SUISSE FIRST BOSTON VID 1261 of 2005 FINKELSTEIN J 11 NOVEMBER 2005 MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VID 1261 of 2005

BETWEEN: TAKEOVERS PANEL

Plaintiff

AND: GLENCORE INTERNATIONAL AG,

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION,

AUSTRAL COAL LIMITED,

FORNAX INVESTMENTS LTD,

ABN AMRO BANK NV,

CENTENNIAL COAL COMPANY LTD and

CREDIT SUISSE FIRST BOSTON

Defendants

JUDGE: FINKELSTEIN J

DATE OF ORDER: 19 OCTOBER 2005

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT: The time within which the Takeovers Panel may on the application of Centennial Coal Company Ltd make a declaration under s 657A of the Corporations Act 2001 (Cth) in relation to the affairs of Austral Coal Limited be extended to 28 October 2005.

Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.