Fairfax Media Limited, in the matter of Fairfax Media Limited (No 2) [2018] FCA 1930

FEDERAL COURT OF AUSTRALIA

Fairfax Media Limited, in the matter of Fairfax Media Limited (No 2) [2018] FCA 1930 File number: NSD 1628 of 2018

Judge: GLEESON J

Date of judgment: 27 November 2018

Date of publication of reasons: 3 December 2018

Catchwords: CORPORATIONS – scheme of arrangement – application for court approval of scheme pursuant to Corporations Act 2001 (Cth) s 411(4)(b) – whether proxy forms valid – whether independent report valuation methodology provided sufficient disclosure to shareholders – whether alternate "proposal" ought to have been put to scheme meeting – approval granted

Legislation: Corporations Act 2001 (Cth) ss 128(1), 129(3), 250A, 250B, 411(1), 411(4), 411(17), 608(1), 608(9), 671B, 1322 Corporations Regulations 2001 (Cth) regs 1.0.16, 2G.2.01

Cases cited: Avoca Resources Limited, re Avoca Resources Limited [2011] FCA 208 Cordiant Communications (Aust) Pty Ltd v Communications Group Holdings Pty Ltd [2005] NSWSC 1005; (2005) 55 ACSR 185 Crabtree-Vickers Pty Ltd v Australian Direct Mail Advertising & Addressing Co Pty Ltd [1975] HCA 49; (1975) 133 CLR 72 Fairfax Media Limited, re Fairfax Media Limited [2018] FCA 1610 Lion Nathan Limited, re Lion Nathan Limited (No 2) [2009] FCA 1261 Pacific Carriers Limited v BNP Paribas [2004] HCA 24; (2004) 218 CLR 451 Re HIH Casualty and General Insurance Limited [2006] NSWSC 485; (2006) 200 FCR 200 Re HIH Casualty and General Insurance Limited [2006] NSWSC 485; (2006) 200 FCR 200 Re Medical Australia Limited (No 2) [2017] FCA 1429 Re NRMA Limited (No 2) [2000] NSWSC 408; (2000) 156 FLR 412 Re Signature Capital Investments Limited (No 2) [2016] FCA 385 Seven Network Limited (ACN 052 816 789), re Seven Network Limited (ACN 052 816 789) (No 3) [2010] FCA 400; (2010) 267 ALR 583