Lanka Graphite Limited (formerly Viculus Limited) [2015] FCA 798

FEDERAL COURT OF AUSTRALIA

Lanka Graphite Limited (formerly Viculus Limited) [2015] FCA 798 Citation: Lanka Graphite Limited (formerly Viculus Limited) [2015] FCA 798

Parties: LANKA GRAPHITE LIMITED (FORMERLY VICULUS LIMITED) (ACN 074 976 828)

File number: VID 400 of 2015

Judge: DAVIES J

Date of judgment: 6 August 2015

Catchwords: CORPORATIONS – application to extend time to satisfy a bid condition – whether application should be granted – relevant principles – extent of court's power to make orders under s 1322(4)(d) – whether any substantial injustice if order made – application granted

Legislation: Corporations Act 2001 (Cth) ss 650G, 1322(4)(d), (6)(c)

Cases cited: Weinstock v Beck (2013) 251 CLR 396 Blaze Asset Pty Ltd v Target Energy Ltd (2009) 177 FCR 488 Re Insurance Australia Group Pty Ltd (2003) 128 FCR 581 Re Wave Capital Ltd (2003) 47 ACSR 418; [2003] FCA 969

Date of hearing: 4 August 2015

Place: Melbourne

Division: GENERAL DIVISION

Category: Catchwords

Number of paragraphs: 22

Counsel for the Plaintiff: P D Crutchfield QC with B McLachlan

Solicitor for the Plaintiff: Fuse Advisory Lawyers

IN THE FEDERAL COURT OF AUSTRALIA VICTORIA DISTRICT REGISTRY GENERAL DIVISION VID 400 of 2015

IN THE MATTER OF LANKA GRAPHITE LIMITED (FORMERLY VICULUS LIMITED) LANKA GRAPHITE LIMITED (FORMERLY VICULUS LIMITED) (ACN 074 976 828)

Plaintiff

JUDGE: DAVIES J DATE OF ORDER: 6 August 2015 WHERE MADE: MELBOURNE

THE COURT ORDERS THAT:

1. The time provided for the Plaintiff to satisfy Bid Condition (e) of the Plaintiff's Takeover Bid for Euro Petroleum Ltd (ACN 147 870 362) (which Bid Condition is set out in Annexure A of the Plaintiff's Bidder's Statement dated 1 August 2014) be extended under s 1322(4)(d) of the Corporations Act 2001 (Cth) to 31 July 2015.