Spicers Limited, in the matter of Spicers Limited [2019] FCA 731

FEDERAL COURT OF AUSTRALIA

Spicers Limited, in the matter of Spicers Limited [2019] FCA 731 File number(s): VID 388 of 2019

Judge(s): ANDERSON J

Date of judgment: 17 May 2019

Date of publication of reasons: 22 May 2019

Catchwords: CORPORATIONS – members' scheme of arrangement – first court hearing – order sought under s 411(1) of the Corporations Act 2001 (Cth) – content of explanatory statement – nature of court's discretion – fairness of proposed scheme – performance risk – proper disclosure – foreign enforceability of deed poll – break fee – exclusivity restrictions – director performance rights – order made for convening of shareholders' meeting

Legislation: Corporations Act 2001 (Cth) ss 9, 256C(1), 411(1), 411(2)(a), 411(2)(b), 411(4)(a)(ii), 411(4)(b) Federal Court (Corporations) Rules 2000 (Cth) r 2.13(1)

Cases cited: Adelaide Bank Limited, in the matter of Adelaide Bank Limited ACN 061 461 550 [2007] FCA 1582 Amcor Limited, in the matter of Amcor Limited [2019] FCA 346 Associated Advisory Practices Limited, in the matter of Associated Advisory Practices Limited [2013] FCA 761 In the matter of Coles Group Limited (2007) 25 ACLC 1380 In the matter of Hostworks Group Ltd ACN 008 010 820 (2008) 26 ACLC 137 Macquarie Private Capital A Limited (2008) 26 ACLC 366 Re APN News & Media Ltd (2007) 62 ACSR 400 Re Arthur Yates & Co Ltd (2001) 36 ACSR 758 Re Foundation Healthcare Ltd (2002) 42 ACSR 252 Re Macquarie Capital Alliance Ltd (2008) 67 ACSR 484 Re SFE Corporation Ltd (ABN 74 000 299 392) (No 1) (2006) 59 ACSR 82 Re Skilled Group Ltd (ACN 005 585 811) (No 1) (2015) 113 ACSR 525 Simavita Holdings Limited, in the matter of Simavita Holdings Limited [2013] FCA 1274