3Q Holdings Limited, in the matter of 3Q Holdings Limited (No 2) [2022] FCA 1359

Federal Court of Australia

3Q Holdings Limited, in the matter of 3Q Holdings Limited (No 2) [2022] FCA 1359 File number: NSD 274 of 2022

Judgment of: CHEESEMAN J

Date of judgment: 9 November 2022

Date of Publication of Reasons: 24 November 2022

Catchwords: CORPORATIONS – scheme of arrangement – second court hearing – where approval of scheme sought pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth) – where communications sent to shareholders without Court approval – where there was low shareholder turnout at one of the two scheme meetings – whether scheme involved the issue of debentures for the purposes of the Act – whether scheme ought be approved – Held: orders made.

Legislation: Corporations Act 2001 (Cth) ss 9, 124(1)(b), 411, s 412(6)

Cases cited: ABN AMRO Bank NV v Bathurst Regional Council [2014] FCAFC 65 Handevel Pty Ltd v Comptroller of Stamps (Vic) [1985] HCA 73; 157 CLR 177 Hawkins v Bank of China (1992) 26 NSWLR 562 Re Amcor Ltd [2019] FCA 842 Re Associated Advisory Practices Limited (No 2) [2013] FCA 979 Re Auzex Resources Limited (No 2) [2012] QSC 101 Re Cashcard Australia Ltd [2004] FCA 223; 48 ACSR 738 Re Centro Retail Limited [2011] NSWSC 1321 Re Dealt Holdings Ltd (No 2) [2022] FCA 1266 Re Decimal Software Limited (No 2) [2018] FCA 2040 Re Matine Ltd (1998) 28 ACSR 268 Re PayGroup Limited (No 2) [2022] FCA 1350 Re Seven Network (No 3) [2010] FCA 400; 267 ALR 583 Re Vault Intelligence Ltd (No 2) [2020] FCA 1504 Re Vimy Resources Ltd (No 2) [2022] WASC 257 Re Xplore Wealth Ltd (No 2) [2021] FCA 166 Re TriAusMin Limited (No 2) [2014] FCA 833 Re Walsh & Company Investments Ltd [2020] NSWSC 1746