Federal Court of Australia
Federal Court of Australia
Chesser Resources Limited, in the matter of Chesser Resources Limited [2023] FCA 1021 File number: WAD 129 of 2023
Judgment of: FEUTRILL J
Date of judgment: 19 July 2023
Date of publication of reasons: 28 August 2023
Catchwords: CORPORATIONS - scheme of arrangement - order sought under s 411(1) of the Corporations Act 2001 (Cth) - duty and responsibility of scheme proponent - orders made for convening of shareholders' meeting - role of the Australian Securities and Investments Commission - exercise of discretion - performance risk - exclusivity provisions - breach fees - non-scheme considerations - loan facility agreement with bidder - disclosure of director interests and voting intentions - director recommendations
Legislation: Corporations Act 2001 (Cth) ss 9, 411,411(1), 411(2), 411(2)(a), 411(2)(b), 411(4)(a), 411(4)(b), 411(6), 412(1), 412(1)(a), 1319, 1330, Ptt 2G.2, 5.1 Federal Court (Corporations) Rules 2000 (Cth) rr 1.3, 3.2 Federal Court Rules 2011 (Cth) r 1.34 Corporations Regulations 2001 (Cth) regs 5.1.01, 5.1.01(b), 8031(a), 8032, 8032(b); Sch 8, Pt 3
Cases cited: Asaleo Care Limited, in the matter of Asaleo Care Limited [2021] FCA 406 Atlassian Corporation Pty Limited, in the matter of Atlassian Corporation Pty Limited [2013] FCA 1451 Amcor Limited, in the matter of Amcor Limited [2019] FCA 346 Australian Securities Commission v Marlborough Gold Mines Ltd [1993] HCA 15; (1993) 177 CLR 485 Black Range Minerals Limited, in the matter of Black Range Minerals Limited [2015] FCA 1162 DuluxGroup Ltd, in the matter of DuluxGroup Ltd [2019] FCA 961; (2019) 136 ACSR 546 In the matter of iCar Asia Limited [2021] NSWSC 1713 Japara Healthcare Limited, in the matter of Japara Healthcare Limited [2021] FCA 1150; (2021) 156 ACSR 695 Kidman Resources Ltd, in the matter of Kidman Resources Ltd [2019] FCA 1226; (2019) 375 ALR 760 Peak Coal Limited (ACN 125 884 031), In the matter of Peak Coal Limited (ACN 125 884 031) [2010] FCA 6 Re Cashcard Australia Ltd [2004] FCA 223; [2004] 48 ACSR 738 Re CSR Ltd [2010] FCAFC 34; (2010) 183 FCR 358 Re Fosters Group Ltd (No 2) [2011] VSC 547 Re Permanent Trustee Co Ltd [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; (2010) 267 ALR 583 Seven Network Limited (ACN 052 816 789), in the matter of Seven Network Limited [2010] FCA 220 Thomas A Edison Ltd v Bullock [1912] HCA 72; (1912) 15 CLR 679 Wellcom Group Limited, in the matter of Wellcom Group Limited [2019] FCA 1655
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