In the matter of Prospa Group Limited (No 3) [2024] NSWSC 962

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Prospa Group Limited (No 3) [2024] NSWSC 962 Hearing dates: 31 July 2024 Date of orders: 31 July 2024 Decision date: 06 August 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made approving a scheme of arrangement. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – Application under s 411 of the Corporations Act 2001 (Cth) for orders approving scheme of arrangement – Where formal requirements satisfied – Whether scheme of arrangement should be approved. Legislation Cited: - Corporations Act 2001 (Cth) ss 411, 1319 Cases Cited: - Re Anaconda Nickel Holdings Pty Ltd (2003) 44 ACSR 229 at 240; [2003] WASC 19 - Re Amcor Ltd (No 2) [2019] FCA 842 - Re Atlas Iron Ltd (No 2) [2016] FCA 481 - Re Bellamy's Australia Ltd [2019] NSWSC 1889 - Re Central Pacific Minerals NL [2002] FCA 239 - Re Coca-Cola Amatil Ltd [2021] NSWSC 489 - Re Ellerston Global Investments Ltd [2020] NSWSC 110 - Re GBST Holdings Ltd [2019] NSWSC 1503 - Re InvoCare Ltd (No 2) [2023] NSWSC 1350 - Re Pendal Group Ltd (No 3) [2023] NSWSC 14 - Re Permanent Trustee Co Ltd (2002) 43 ACSR 601; [2002] NSWSC 1177 - Re Prospa Group Ltd [2024] NSWSC 790 - Re Redcape Property Fund Ltd and the Trust Company (RE Services) Ltd (as the responsible entity for the Redcape Property Trust) [2012] NSWSC 486 - Re Seven Network (No 3) (2010) 267 ALR 583; [2010] FCA 400 - Re Signature Capital Investments Ltd (No 2) [2016] FCA 385 - Re Solution 6 Holdings Ltd (2004) 50 ACSR 113; [2004] FCA 1049 Category: Principal judgment Parties: Prospa Group Limited (Plaintiff) Representation: Counsel: J Williams SC (Plaintiff) M Izzo SC (Bidder)