In the matter of Prospa Group Limited [2024] NSWSC 790

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Prospa Group Limited [2024] NSWSC 790 Hearing dates: 12 June 2024 Date of orders: 12 June 2024 Decision date: 26 June 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order convening scheme meeting and associated orders made. 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) ss 208, 260B, 411, 1319 Cases Cited: - Re Aveo Group Limited and Aveo Funds Management Ltd [2019] NSWSC 1348 - Re BINGO Industries Ltd [2021] NSWSC 798 - Re Capilano Honey Ltd [2018] FCA 1568 - Re Cashcard Australia Ltd (2004) 48 ACSR 738; [2004] FCA 223 - Re Clough Ltd [2013] FCA 1149 - Re ELMO Software Pty Ltd [2023] NSWSC 12 - Re Foster's Group Ltd (No 2) [2011] VSC 547 - Re Healthia Ltd [2023] NSWSC 1296 - Re Hills Motorway Ltd (2002) 43 ACSR 101; [2002] NSWSC 897 - Re InvoCare Ltd [2023] NSWSC 1180 - Re iProperty Group Ltd [2015] FCA 1507 - Re McGrath Ltd [2024] NSWSC 555 - Re Millennium Services Group Ltd [2024] NSWSC 307 - Re NRMA Ltd (2000) 33 ACSR 595; [2000] NSWSC 82 - Re Origin Energy [2023] NSWSC 1246 - Re Spark Infrastructure RE Ltd [2021] NSWSC 1564 - Re ThinkSmart Ltd [2022] FCA 1314 - Re Thorn Group Ltd [2023] NSWSC 1299 - Re Villa World Ltd [2019] NSWSC 1207 Category: Principal judgment Parties: Prospa Group Limited (Plaintiff) Representation: Counsel: J Williams SC (Plaintiff) M Izzo SC (Bidder)