Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Diverger Limited, in the matter of Diverger Limited [2023] FCA 1614 File number: NSD 1202 of 2023
Judgment of: MARKOVIC J
Date of judgment: 19 December 2023
Catchwords: CORPORATIONS – scheme of arrangement – first Court hearing – application for orders pursuant to s 411 and s 1319 of the Corporations Act 2001 (Cth) to convene meeting of the ordinary shareholders of the plaintiff – where proposed Scheme involves a mix of cash and scrip consideration – permitted dividend – where treatment of holders of performance rights and options is not class creating – ineligible shareholders – performance risk – break fee – exclusivity – shareholder communications – application allowed
Legislation: Corporations Act 2001 (Cth) ss 260A, 411 and 1319 Federal Court (Corporations) Rules 2000 (Cth) rr 1.3, 2.4(1), 2.15 and 3.4
Cases cited: DDH1 Limited, in the matter of DDH1 Limited [2023] FCA 982 In the matter of 3P Learning Limited [2020] NSWSC 1573 In the matter of Cirrus Networks Holdings Ltd [2023] NSWSC 1298 Kidman Resources Limited, in the matter of Kidman Resources Limited (2019) 375 ALR 760; [2019] FCA 1226 Over the Wire Holdings Limited, in the matter of Over the Wire Holdings Limited [2022] FCA 26 Re Vita Group Ltd (2023) 165 ACSR 576; [2023] FCA 400 SILK Laser Australia Limited, in the matter of SILK Laser Australia Limited [2023] FCA 1191 Xplore Wealth Limited, in the matter of Xplore Wealth Limited [2020] FCA 1868
Division: General Division
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