In the matter of Crestone Holdings Limited [2022] NSWSC 433

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Crestone Holdings Limited [2022] NSWSC 433 Hearing dates: 22 March 2022 Date of orders: 22 March 2022 Decision date: 12 April 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 Cases Cited: - Australian Securities Commissions v Marlborough Gold Mines Ltd (1993) 177 CLR 485 - Cavendish Square Holding BV v Makdessi; Parking Eye Ltd v Beavis [2015] 3 WLR 1373; [2015] UKSC 67 - 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 APN News & Media Ltd (2007) 62 ACSR 400 - Re Arthur Yates & Co Ltd (2001) 36 ACSR 758 - Re BINGO Industries Ltd [2021] NSWSC 798 - Re BIS Finance Pty Ltd [2017] NSWSC 1713 - Re Bolnisi Gold NL (No 2) (2007) 65 ACSR 510 - Re Centrebet International Ltd [2011] FCA 870 - Re Coca-Cola Amatil Ltd [2021] NSWSC 270 - Re CSR Limited (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 Macquarie Private Capital A Ltd [2008] NSWSC 323 - Re Mosaic Oil NL [2010] FCA 98 - Re Patersons Securities Ltd [2019] FCA 1438 - Re Permanent Trustee Co Ltd (2002) 43 ACSR 601 - Re SAI Global Ltd [2016] FCA 1312 - Re Signature Gold Ltd [2017] FCA 766 - Re Spark Infrastructure RE Ltd [2021] NSWSC 1385 - Re Villa World Ltd [2019] NSWSC 1207 Category: Principal judgment Parties: Crestone Holdings Limited (Plaintiff) Representation: Counsel: D F C Thomas SC (Plaintiff) P M Wood (Bidder) Solicitors: Allens (Plaintiff) Corrs Chambers Westgarth (Bidder) File Number(s): 2022/7377