Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
pSivida Limited v New pSivida, Inc; in the matter of pSivida Limited [2008] FCA 627
CORPORATIONS – scheme of arrangement – reconstruction of company – features of scheme warranting particular attention
Corporations Act 2001 (Cth) ss 411, 413(1)(d), 413(1)(g)
Re South African Supply and Cold Storage (1904) 2 Ch 268 applied Royal Victorian Institute for the Blind Ltd v RBS.RVIB.VAF Ltd (2004) 206 ALR 581 followed SGIC Insurance Ltd v Insurance Australia Ltd (2004) 51 ACSR 470 cited PSIVIDA LIMITED (ABN 78 009 232 026) v NEW PSIVIDA, INC (arbn 130 843 117); IN THE MATTER OF PSIVIDA LIMITED (ABN 78 009 232 026) NSD 538 OF 2008
JACOBSON J
1 MAY 2008
SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NSD 538 OF 2008
IN THE MATTER OF PSIVIDA LIMITED (ABN 78 009 232 026) BETWEEN: PSIVIDA LIMITED
(ABN 78 0009 232 026)
Plaintiff
AND: NEW PSIVIDA, INC
(ARBN 130 843 117)
Defendant
JUDGE: JACOBSON J
DATE OF ORDER: 1 MAY 2008
WHERE MADE: SYDNEY
THE COURT ORDERS THAT:
1. Pursuant to subsection 411(1) of the Corporations Act 2001 (Cth) (the Act):
(a) the Plaintiff, pSivida Limited (ABN 78 009 232 026) (pSivida), convene a meeting (Scheme Meeting) of the holders of ordinary shares in pSivida (pSivida Shareholders) for the purpose of considering and, if thought fit, agreeing to a scheme of arrangement (with or without modification) between pSivida and the pSivida Shareholders substantially in the same form as set out in Exhibit 1 (Information Memorandum);
(b) the Scheme Meeting be held on 6 June 2008 at the Stamford Plaza Melbourne, 111 Little Collins Street, Melbourne, Victoriaat1pm (Sydney Time);
(c) Paul Ashton or, failing him, David Mazzo, act as Chairman of the Scheme Meeting;
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