Federal Court of Australia
Federal Court of Australia
Chesser Resources Limited, in the matter of Chesser Resources Limited (No 2) [2023] FCA 1067 File number: WAD 129 of 2023
Judgment of: FEUTRILL J
Date of judgment: 6 September 2023
Date of publication of reasons: 7 September 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 411(4)(a)(ii), 411(4)(b), 411(11), 411(12), 411(17), 411(17)(b)
Cases cited: Amcor Limited, in the matter of Amcor Limited (No 2) [2019] FCA 842 Avita Medical Limited, in the matter of Avita Medical Limited (No 3) [2020] FCA 896 Chesser Resources Limited, in the matter of Chesser Resources Limited [2023] FCA 1021 Seven Network Limited (ACN 052 816 789), in the matter of Seven Network Limited (No 3) [2010] FCA 400; (2010) 267 ALR 583
Division: General Division
Registry: Western Australia
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 22
Date of hearing: 6 September 2023
Counsel for the Plaintiff: Mr SK Dharmananda SC
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