In the matter of Auswide Bank Limited [2024] NSWSC 1362

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Auswide Bank Limited [2024] NSWSC 1362 Hearing dates: 22 October 2024 Date of orders: 22 October 2024 Decision date: 28 October 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 110D-110E, 260A, 411, 1319 - Securities Act 1933 (US), s 3(a)(10) - Supreme Court (Corporations) Rules 1999 (NSW), rr 2.4, 3.3-4 Cases Cited: - Australian Securities Commission 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 Absolute Equity Performance Fund Ltd [2022] FCA 933 - Re A2B Australia Ltd [2024] NSWSC 185 - Re Altium Ltd [2024] NSWSC 736 - Re Arthur Yates & Co Ltd (2001) 36 ACSR 758; [2001] NSWSC 40 - Re Asaleo Care Ltd [2021] FCA 406 - Re Beadell Resources Ltd [2018] WASC 410 - Re Capitol Health Ltd [2024] FCA 1120 - Re Cashcard Australia Ltd (2004) 48 ACSR 738 - Re CSR Ltd (2010) 183 FCR 358; [2010] FCAFC 34 - 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 InvoCare Ltd [2023] NSWSC 1180 - Re Isentia Group Ltd [2021] NSWSC 910 - Re Nzuri Copper Ltd (No 4) [2020] WASC 10 - Re Orion Telecommunications Limited [2007] FCA 1389 - Re Pacific Smiles Group Ltd [2024] NSWSC 812 - Re Permanent Trustee Co Ltd (2002) 43 ACSR 601 - Re ResApp Health Ltd [2022] NSWSC 135 - Re Sirtex Medical Ltd [2018] FCA 1315 - Re Staging Connections Group Ltd [2015] FCA 1012 - Re Tatts Group Ltd [2017] VSC 552 - Re TPG Telecom Ltd [2020] NSWSC 772 - Re Trust Co (Re Services) Ltd as responsible entity of VitalHarvest Freehold Trust [2021] NSWSC 108 - Re Villa World Ltd [2019] NSWSC 1207 - Re Vocus Group Ltd [2021] NSWSC 630 - Re Wridgways Australia Ltd [2010] FCA 1187 Category: Principal judgment Parties: Auswide Bank Limited (Plaintiff) Representation: Counsel: Mr I Ahmed SC (Plaintiff) Mr J Giles SC (Bidder)