Venturex Resources Limited, in the matter of Venturex Resources Limited (ACN 122 180 205) [2009] FCA 677

FEDERAL COURT OF AUSTRALIA

Venturex Resources Limited, in the matter of Venturex Resources Limited (ACN 122 180 205) [2009] FCA 677

CORPORATIONS – whether general prohibition of commencement of litigation before the end of the takeover period precludes the seeking of remedial relief during the takeover period pursuant to s 1325A(2) of the Corporations Act 2001 (Cth) CA – whether a general provision gives way to a specific provision – what were the purposes of the respective provisions – what are the interests of those affected by the irregularity which it is sought to cure – considerations taken into account in granting relief – offer would be void – offerees who have accepted would be deprived of the benefit of the acceptance – vast majority of offerees accepting with unanimous support of directors from target company Held: The application for relief by way of remedial orders under s 1325A(2) of the Corporations Act 2001 (Cth) (CA) be granted. Corporations Act 2001 (Cth) ss 625(3), 625(3)(c)(i), 659B, 659B(1), 659B(3)(a), 659B(3)(b), 1325A(2), 1325A(3)(b) Associated Minerals Consolidated Ltd v Wyong Shire Council (1974) 4 ALR 353 Attorney-General Cth) v Alinta Limited (2008) 233 CLR 542 Goodwin v Phillips (1908) 7 CLR 1 GrainCorp Limited, in the matter of GrainCorp Limited [2008] FCA 996 In the matter of MacMahon Holdings Limited (ACN 007 634 406) [2008] FCA 1079 Lionsgate Australia v Macquarie Private Portfolio (2007) 210 FLR 106 Maybury v Plowman (1913) 16 CLR 468 Tower Software Engineering Pty Limited; Pendant Software Pty Limited v Harwood (2006) 154 FCR 150 IN THE MATTER OF VENTUREX RESOURCES LIMITED (ACN 122 180 205) VENTUREX RESOURCES LIMITED (ACN 122 180 205)

WAD 96 of 2009

MCKERRACHER J

18 JUNE 2009

PERTH

IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD 96 of 2009