Empired Limited, in the matter of Empired Limited [2021] FCA 1141

FEDERAL COURT OF AUSTRALIA

Empired Limited, in the matter of Empired Limited [2021] FCA 1141 File number: WAD 202 of 2021

Judgment of: MCKERRACHER J

Date of judgment: 20 September 2021

Date of publication of reasons: 21 September 2021

Catchwords: CORPORATIONS – scheme of arrangement – application under s 411(1) of the Corporations Act 2001 (Cth) to convene a meeting to consider a proposed scheme of arrangement by transfer of shares – performance risk – break fee – exclusivity – director recommendation

Legislation: Corporations Act 2001 (Cth) ss 9, 249J, 249J(3)(ca), 249J(3A), 253Q, 411, 411(1), 411(2), 411(2)(a), 411(2)(b), 411(3), 411(4)(b), 411(6), 411(11), 411(12), 411(17), 412, 412(1), 412(1)(a)(i), 412(1)(a)(ii), 411(2)(b), 412(6), 1319; Ptt 5.1, 2G.2, 2G.5 Treasury Laws Amendment (2021 Measures No. 1) Act 2021 (Cth) s 1679F Corporations Regulations 2001 (Cth) r 5.1.01; Sch 8, Pt 3; cll 8301-8310 Federal Court Rules 2011 (Cth) r 1.61 Federal Court (Corporations) Rules 2000 (Cth) r 3.4

Cases cited: MDA National Ltd v Medical Defence Australia Ltd [2014] FCA 954 Re ABB Grain Ltd [2010] FCA 1309 Re ACM Gold Ltd; Re Mt Leyshon Gold Mines Ltd (1992) 34 FCR 530 Re Anatolia Energy Limited [2015] FCA 1134 Re APN News & Media Ltd [2007] FCA 770; (2007) 62 ACSR 400 Re Aldridge Uranium Ltd [2010] FCA 1263 Re Alinta Ltd (ABN 11 119 985 590) (No 2) [2007] FCA 1378 Re Amcom Telecommunications Limited [2015] FCA 341 Re Arthur Yates & Co Ltd [2001] NSWSC 40; (2001) 36 ACSR 758 Re Asaleo Care Limited [2021] FCA 406 Re Billabong International Ltd [2018] FCA 106 Re CSR Limited [2010] FCAFC 34; (2010) 183 FCR 358 Re Foundation Healthcare Ltd [2002] FCA 742; (2002) 42 ACSR 252 Re Galaxy Resources Ltd; Ex parte Galaxy Resources Ltd [2021] WASC 277 Re Innamincka Petroleum Ltd [2010] FCA 1421 Re International Harvester Co of Australia Pty Ltd [1953] VLR 669 Re Investa Properties Ltd [2007] FCA 1104 Re Kidman Resources Ltd [2019] FCA 1226 Re Macquarie Private Capital A Ltd [2008] NSWSC 323 Re NRMA Ltd (No 1) [2000] NSWSC 82; (2000) 156 FLR 349 Re NTM Gold Ltd; Ex parte NTM Gold Ltd [2021] WASC 22 Re Permanent Trustee Co Ltd [2002] NSWSC 1177; (2002) 43 ACSR 601 Re Programmed Maintenance Services Ltd [2017] FCA 1265 Re Rusina Mining NL [2010] FCA 517 Re RXP Services Ltd [2021] FCA 38 Re Saracen Mineral Holdings Ltd [2020] WASC 483 Re Sonodyne International Ltd (1994) 15 ACSR 494 Re Spookfish Ltd [2018] FCA 1550 Re Staging Connections Group Ltd [2015] FCA 1012 Re Tiger Resources Ltd [2019] FCA 2186; (2019) 141 ACSR 203 Re Tower Australia Group Ltd [2011] FCA 224 Re Wellcom Group Ltd [2019] FCA 1655 Re Wesfarmers Ltd; Ex Parte Wesfarmers Ltd [2018] WASC 308 Sovereign Life Assurance Co v Dodd [1892] QB 573