In the matter of Home Consortium Developments Limited [2021] NSWSC 1476

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Home Consortium Developments Limited [2021] NSWSC 1476 Hearing dates: 4 November 2021 Date of orders: 4 November 2021 Decision date: 16 November 2021 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order made convening scheme meetings and approving the scheme booklet for distribution to shareholders. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – De-stapling scheme – Application under s 411 of the Corporations Act 2001 (Cth) for orders convening meetings of members to consider and, if thought fit, to agree to proposed scheme of arrangement – Destapling scheme – Whether requirements to order scheme meetings are satisfied. Legislation Cited: - Corporations Act 2001 (Cth), s 411 - Treasury Laws Amendment (2021 Measures No. 1) Act 2021 (Cth) Cases Cited: - Australian Securities Commission v Marlborough Gold Mines Ltd (1993) 177 CLR 485; (1993) 112 ALR 627; (1993) 10 ACSR 230; [1993] HCA 15 - F T Eastment & Sons Pty Ltd v Metal Roof Decking Supplies Pty Ltd (1977) 3 ACLR 69 - Re Abacus Funds Management Ltd (2006) 24 ACLC 211; [2005] NSWSC 1309 - Re Adelaide Bank Ltd [2007] FCA 1582 - Re APN News & Media Ltd (2007) 62 ACSR 400; [2007] FCA 770 - Re Ardent Leisure Ltd [2018] NSWSC 1665 - Re Atlas Iron Ltd (2016) 112 ACSR 554; [2016] FCA 366 - Re BINGO Industries Ltd [2021] NSWSC 798 - Re BIS Finance Pty Ltd [2017] NSWSC 1713 - Re Centrebet International Ltd [2011] FCA 870 - Re CSR Ltd (2003) 45 ACSR 34; [2003] FCA 82 - Re CSR Ltd (2010) 183 FCR 358; (2010) 265 ALR 703; (2010) 77 ACSR 592; [2010] FCAFC 34 - Re DUET Finance Ltd [2017] NSWSC 415 - Re Ellerston Global Investments Ltd [2020] NSWSC 879 - Re Foundation Healthcare Ltd (2002) 42 ACSR 252; [2002] FCA 742 - Re Hills Motorway Ltd (2002) 43 ACSR 101; [2002] NSWSC 897 - Re Macquarie Private Capital A Ltd [2008] NSWSC 323 - Re Simavita Holdings Ltd [2013] FCA 1274 - Re Staging Connections Group Ltd [2015] FCA 1012 - Re Villa World Ltd [2019] NSWSC 1207 - Re Westfield Corporation Limited [2018] NSWSC 584 - Re Windlab Ltd [2020] NSWSC 571 Category: Principal judgment Parties: Home Consortium Developments Limited (Plaintiff) Representation: Counsel: J Arnott SC (Plaintiff)