In the matter of Murchison Metals Limited [2014] NSWSC 951

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Murchison Metals Limited [2014] NSWSC 951 Hearing dates: Tuesday 23 June 2014 Decision date: 23 June 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Pursuant to Corporations Act, s 411(4)(b), the scheme of arrangement between the plaintiff Murchison Metals Limited and the holders of ordinary shares in the plaintiff other than excluded shareholders be approved. Pursuant to s 411(12), the plaintiff is exempted from compliance with subs 411(11) in relation to order 1. Catchwords: CORPORATIONS - schemes of arrangement or compromise - convening of a scheme meeting under s 411 Corporations Act - proposal of cancellation of shares for a company to become a wholly owned subsidiary - Court exercising supervisory jurisdiction - compliance with statutory and procedural requirements in respect of convening a meeting - explanatory statement distributed to shareholders Legislation Cited: (Cth) Corporations Act 2001, s 411 Cases Cited: In the matter of Re1 Limited and Re2 Limited as responsible entitles for Westfield Retail Trust 1 and Westfield Retail Trust 2 (No 3) [2014] NSWSC 762 Re Anaconda Nickel Holdings Pty Ltd (2004) 44 ACSR 229 Re Equinox Resources Ltd (2004) 49 ASCR 692 Category: Principal judgment Parties: Murchison Metals Limited (plaintiff) Representation: Counsel: J R Williams (plaintiff) Solicitors: Corrs Chambers Westgarth (plaintiff) File Number(s): 2014/131488