Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
PR Finance Group Limited, in the matter of PR Finance Group Limited (No 2) [2013] FCA 633 Citation: PR Finance Group Limited, in the matter of PR Finance Group Limited (No 2) [2013] FCA 633
Parties: PR FINANCE GROUP LIMITED ACN 109 299 390
File number: NSD 673 of 2013
Judge: JACOBSON J
Date of judgment: 25 June 2013
Catchwords: CORPORATIONS – scheme of arrangement – where statutory majority of shareholders approved entry into the scheme – where audited accounts required under Corporations Act 2001 (Cth) were not provided to members prior to meeting – where auditor and independent expert gave evidence of their opinion that the scheme was in the best interests of shareholders – whether non-disclosure of audited accounts was material – approval of scheme refused – hearing adjourned to enable the provision of audited accounts and the holding of a further shareholders meeting
Legislation: Corporations Act 2001 (Cth)
Cases cited: ENT Pty Ltd v Sunraysia Television Ltd (2007) 61 ACSR 626 Pancontinental Mining Ltd v Goldfields Ltd (1995) 16 ACSR 463 PR Finance Group Limited, in the matter of PR Finance Group Limited [2013] FCA 504 Re Castlereagh Securities Ltd [1973] 1 NSWLR 624 Re Crusader Ltd [1996] 1 Qd R 117 Re NRMA Ltd (2000) 33 ACSR 595 Re NRMA Ltd (No 2) (2000) 156 FLR 412 Re Seven Network Ltd (No 3) (2010) 267 ALR 583 Zenyth Therapeutics Ltd v Smith (2006) 60 ACSR 548
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