Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Konekt Limited, in the matter of Konekt Limited (No 3) [2019] FCA 2105 File number(s): NSD 1704 of 2019
Judge(s): FARRELL J
Date of judgment: 9 December 2019
Date of publication of reasons: 12 December 2019
Catchwords: CORPORATIONS – members' scheme of arrangement – application under s 411 of the Corporations Act 2001 (Cth) for orders to approve scheme – where directors of target company propose to pay a special dividend conditional on the scheme becoming effective – where target company acts on the basis that s 260A of the Corporations Act applies to a borrowing to pay the special dividend – where directors of the target company hold the view that there would be no material effect on target company's ability to pay its creditors – application granted
Legislation: Corporations Act 2001 (Cth) s 260A and 411
Cases cited: Central Pacific Minerals NL [2002] FCA 239 Konekt Limited, in the matter of Konekt Limited [2019] FCA 1811 Konekt Limited, in the matter of Konekt Limited (No 2) [2019] FCA 1997 Permanent Trustee Company Limited [2002] NSWSC 1177; (2002) 43 ACSR 601 Seven Network Limited (ACN 052 816 789), in the matter of Seven Network Limited (No 3) [2010] FCA 400 Solution 6 Holdings Limited ACN 003 264 006, in the matter of Solution 6 Holdings Limited ACN 003 264 006 [2004] FCA 1049; 50 ACSR 113
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate