In the matter of Ausnet Services Ltd [2022] NSWSC 21

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Ausnet Services Ltd [2022] NSWSC 21 Hearing dates: 16 December 2021 Date of orders: 16 December 2021 Decision date: 20 January 2022 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order made convening scheme meeting and approving the scheme booklet for distribution to shareholders. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – Application under s 411 of the Corporations Act 2001 (Cth) for orders convening meeting of members to consider and, if thought fit, to agree to proposed scheme of arrangement – Whether requirements to order scheme meeting are satisfied. Legislation Cited: - Corporations Act 2001 (Cth), s 411, s 1319 Cases Cited: - Australian Securities Commissions v Marlborough Gold Mines Ltd (1993) 177 CLR 485 - 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 - Re Adelaide Bank Limited [2007] FCA 1582 - Re Afterpay Ltd [2021] NSWSC 1435 - Re Arthur Yates & Co Ltd (2001) 36 ACSR 758 - Re Atlas Iron Ltd (2016) 112 ACSR 554; [2016] FCA 366 - Re BINGO Industries Limited [2021] NSWSC 798 - Re BIS Finance Pty Ltd [2017] NSWSC 171 - Re Bolnisi Gold NL (No 2) (2007) 65 ACSR 510; [2007] FCA 2078 - Re Cashcard Australia Ltd (2004) 48 ACSR 738 - Re Centrebet International Ltd [2011] FCA 870 - Re Coca-Cola Amatil Limited [2021] NSWSC 270 - Re CSR Ltd (2010) 183 FCR 358 - Re DUET Finance Ltd [2017] NSWSC 415 - Re Ellerston Global Investments Ltd [2020] NSWSC 879 - Re Foster's Group Ltd (No 2) [2011] VSC 547 - Re Foundation Healthcare Ltd (2002) 42 ACSR 252; [2002] FCA 742 - Re Hostworks Group Ltd (2008) 26 ACLC 137 - Re Legend Corporation Ltd [2019] FCA 1249 - Re Legend Corporation Ltd (No 2) [2019] FCA 1444 - Re Macquarie Private Capital A Ltd [2008] NSWSC 323 - Re OneVue Holdings Limited [2020] FCA 132 - Re Real Energy Corporation Limited [2020] FCA 1634 - Re Foster's Group Ltd (No 2) [2011] VSC 547 at [38]-[43]; - Re SAI Global Ltd [2016] FCA 1312 - Re Spark Infrastructure RE Limited [2021] NSWSC 1385 - Re Spark Infrastructure RE Limited [2021] NSWSC 1564 - Re Staging Connections Group Ltd [2015] FCA 1012 - Re Villa World Ltd [2019] NSWSC 1207 Category: Principal judgment Parties: Ausnet Services Ltd (Plaintiff) Representation: Counsel: I M Jackman SC (Plaintiff) P M Wood (Acquirer)