ThinkSmart Limited, in the matter of ThinkSmart Limited (No 2) [2022] FCA 1414

Federal Court of Australia

ThinkSmart Limited, in the matter of ThinkSmart Limited (No 2) [2022] FCA 1414 File number: WAD 206 of 2022

Judgment of: JACKSON J

Date of judgment: 22 November 2022

Date of publication of reasons: 24 November 2022

Catchwords: CORPORATIONS - application to approve scheme of arrangement pursuant to s 411(4)(b) of the Corporations Act 2001 (Cth) - transfer of shares of company to takeover vehicle, paid for by sale of company's share assets on market - consideration of procedural matters - consideration of exercise of discretion - scheme approved - orders made

Legislation: Corporations Act 2001 (Cth) ss 224, 260B, 411, 412, 1322, Chapter 6

Cases cited: Angel Seafood Holdings Ltd [2022] FCA 717 APN Outdoor Group Limited (No 2) [2018] FCA 1633 Asaleo Care Limited (No 2) [2021] FCA 636 Cassini Resources Ltd (No 2) [2020] WASC 354 Chevron (TAPL) Pty Ltd (No 2) [2022] FCA 381 David Jones Limited (No 3) [2014] FCA 753 Excelsior Gold Limited [2018] FCA 2064 Fowler v Lindholm [2009] FCAFC 125; (2009) 178 FCR 563 Hibernian Friendly Society (NSW) Limited [2002] FCA 1139 Macquarie Private Capital A Ltd [2008] NSWSC 323 Mantra Group Limited (No 2) [2018] FCA 805 Navitas Ltd [2019] WASC 180 Navitas Ltd (No 2) [2019] WASC 218 NRMA Limited (No 2) [2000] NSWSC 408 Seven Network Limited (No 3) [2010] FCA 400 The Thoroughbred Consultants Pty Ltd (in liq) [2021] VSC 627 ThinkSmart Limited [2022] FCA 1314 TriAusMin Limited (No 2) [2014] FCA 833 United Medical Protection Limited [2007] FCA 631 Wesfarmers Ltd [2018] WASC 308