PR Finance Group Limited, in the matter of PR Finance Group Limited (No 3) [2013] FCA 704

FEDERAL COURT OF AUSTRALIA

PR Finance Group Limited, in the matter of PR Finance Group Limited (No 3) [2013] FCA 704 Citation: PR Finance Group Limited, in the matter of PR Finance Group Limited (No 3) [2013] FCA 704

Parties: PR FINANCE GROUP LIMITED ACN 109 299 390

File number: NSD 673 of 2013

Judge: FARRELL J

Date of judgment: 19 July 2013

Catchwords: CORPORATIONS – scheme of arrangement – where statutory majority of shareholders approved entry into scheme – where audited accounts required under Corporations Act 2001 (Cth) were not provided to ASIC before meeting as represented – ratification meeting required – whether Court has power under s 1319 of Corporations Act 2001 (Cth) to convene ratification meeting – whether orders are "consequential" or "ancillary"

Legislation: Corporations Act 2001 (Cth) ss 249G, 411(1), 411(4)(a)(ii), 411(4)(b), 411(10), 411(17), 1319

Cases cited: Anzon, Re BlueFreeway Ltd (No 2) [2009] FCA 708 Centro Retail Limited and Centro MCS Manager Limited in its capacity as Responsible Entity of Centro Retail Trust [2011] NSWSC 1321 CMPS&F Pty Limited v Crooks Mitchell Ltd (1997) 76 FCR 366 Northwest Capital Management v Westate Capital Ltd [2012] WASC 121 PR Finance Group Limited, in the matter of PR Finance Group Limited [2013] FCA 504 PR Finance Group Limited, in the matter of PR Finance Group Limited (No 2) [2013] FCA 633 Re Anzon Energy Ltd (2008) 66 ACSR 355 Re Australian Gas Light Co (2006) 57 ACSR 67 Re Cellestis Limited (No 2) [2011] VSC 329 Re Citect Corporation Ltd (2006) 56 ACSR 663 Re Coates Hite Ltd (No 2) [2007] FCA 2105 Re Lend Lease Primelife Ltd; Re Lend Lease Village Responsible Entity Ltd (2009) NSWSC 1340 Austin & Black Annotations to the Corporations Act (LexisNexis)