In the matter of Auswide Limited (No 2) [2025] NSWSC 72

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Auswide Limited (No 2) [2025] NSWSC 72 Hearing dates: 7 February 2025 Date of orders: 7 February 2025 Decision date: 18 February 2025 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: - Banking Act 1959 (Cth), s 63 - Corporations Act 2001 (Cth), s 411 - Financial Sector (Shareholdings) Act 1998 (Cth) - Securities Act 1933 (US), s 3(a)(10) Cases Cited: - Re Amcor Ltd (No 2) [2019] FCA 842 - Re Auswide Bank Ltd [2024] NSWSC 1362 - Re Beadell Resources Ltd (2018) 133 ACSR 600; [2018] WASC 410 - Re Bionomics Ltd (No 2) [2024] NSWSC 1666 - Re Central Pacific Minerals NL [2002] FCA 239 - Re Coca-Cola Amatil Ltd [2021] NSWSC 489 - Re Ellerston Global Investments Ltd [2020] NSWSC 1108 - Re Equinox Resources Ltd (2004) 49 ACSR 692; [2004] WASC 143 - Re Murchison Metals Ltd [2014] NSWSC 951 - Re Newcrest Mining Ltd (No 2) [2023] FCA 1251 - Re Pendal Group Ltd (No 3) [2023] NSWSC 14 - Re Permanent Trustee Co Ltd (2002) 43 ACSR 601; [2002] NSWSC 1177 - 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 Simeon Wines Ltd (2002) 42 ACSR 454; [2002] SASC 204 - Re Solution 6 Holdings Ltd (2004) 50 ACSR 113; [2004] FCA 1049 - Re TASK Group Holdings Limited (No 3) [2024] NSWSC 854 - Re Telstra Corporation Ltd (2022) 163 ACSR 543; [2022] NSWSC 1460 - Re The Trust Company Ltd [2013] NSWSC 1947 Category: Principal judgment Parties: Auswide Limited (Plaintiff) MyState Bank Limiterd (Bidder) Representation: Counsel: I Ahmed SC (Plaintiff) J Giles SC (Bidder)