Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Investorinfo Limited (ACN 088 838 779), in the matter of Investorinfo Limited (ACN 088 838 779) [2005] FCA 1848 CORPORATIONS – scheme of arrangement – the discretion to amend a scheme under s 411(6) Corporations Act 2001 (Cth), s 411(6) Re Adelaide Air Conditioning and Domestic Engineers Ltd (In Liq) [1972] 6 SASR 603 cited Re BTS Bearings and Transmission Supplies Pty Ltd (1983) 8 ACLR 287 cited Re H Craig Pty Ltd (1971-73) CLC 40-026 cited Re Evandale Estates Ltd 1962 VSC unreported cited Re Homemaker Retail Management Ltd (2001) 187 ALR 520 cited Re Permanent Trustee Co Ltd (2002) 43 ACSR 601 cited Re V & M Diagnostic Services Pty Ltd (1985) 9 ACLR 663 cited
IN THE MATTER OF INVESTORINFO LIMITED (ACN 088 838 779)
INVESTORINFO LIMITED (ACN 088 838 779)
NSD 1947 OF 2005
GYLES J
16 DECEMBER 2005
SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NSD 1947 OF 2005
IN THE MATTER OF INVESTORINFO LIMITED (ACN 088 838 779)
INVESTORINFO LIMITED (ACN 088 838 779)
PLAINTIFF
JUDGE: GYLES J
DATE: 16 DECEMBER 2005
PLACE: SYDNEY
REASONS FOR JUDGMENT 1 The plaintiff seeks orders pursuant to Pt 5.1 of the Corporations Act 2001 (Cth) (the Act) for approval of a scheme of arrangement between Investorinfo Limited (Investorinfo) and its members. 2 On 21 October 2005 I made orders pursuant to s 411(1) of the Act that there be separate meetings convened of certain of the holders of ordinary shares of Investorinfo. Those meetings were held and the requisite resolutions were passed in each case by all requisite majorities. 3 On 6 December, having read the affidavit evidence, I was satisfied that all of the relevant matters requiring proof had been proved. Being satisfied of what might be called the formalities and having been satisfied from the first court hearing that this was an appropriate matter to put before those interested in the scheme for their judgment, that judgment having been received in favour, I was prepared to make the orders sought subject to one issue that arose on the hearing. 4 Clause 2(a) of the proposed scheme provided: 'This Scheme is conditional on all of the conditions in Clause 3.1 of the Implementation Agreement…having been satisfied or waived in accordance with the terms of the Implementation Agreement by 5.00 pm on the day before the Second Court Date.'
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