In the matter of Pulse Health Limited [2017] NSWSC 140

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Pulse Health Limited [2017] NSWSC 140 Hearing dates: 31 January 2017 Decision date: 31 January 2017 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court orders pursuant to s 411 of the Corporations Act 2001 (Cth) that the Plaintiff convene a meeting of shareholders for the purposes of considering and, if it thought fit, agreeing to a proposed scheme of arrangement between the Plaintiff and its members, and makes ancillary orders. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – Application under s 411 of the Corporations Act 2001 (Cth) for orders convening a meeting of members to consider and if it thought fit to agree to a proposed scheme of arrangement – where scheme of arrangement involved the plaintiff's shareholders transferring their shares to another company for cash consideration – whether requirements to order scheme meeting are satisfied. Legislation Cited: - Corporations Act 2001 (Cth), s 411, Ch 6 - Corporations Regulations 2001 (Cth), reg 5.6.13 - Supreme Court (Corporations) Rules 1999 (NSW), r 2.15 Cases Cited: - Australian Securities Commission v Marlborough Gold Mines Ltd [1993] HCA 15; (1993) 177 CLR 485 - FT Eastment & Sons Pty Ltd v Metal Roof Decking Supplies Pty Ltd (1977) 3 ACLR 69 - Re ACM Gold Ltd; Re Mt Leyshon Gold Mines Ltd [1992] FCA 89; (1992) 34 FCR 530 - Re Andean Resources Ltd [2010] FCA 1190 - Re APN News & Media Ltd [2007] FCA 770; (2007) 62 ACSR 400 - Re Aspen Group Ltd [2015] NSWSC 1718 - Re AXA Asia Pacific Holdings Ltd [2011] VSC 4 - Re BigAir Group Ltd [2016] FCA 1296 - Re Brambles Industries Ltd [2006] FCA 1273; (2006) 59 ACSR 501 - Re Coles Group Ltd [2007] VSC 523; (2007) ACSR 494 - Re Cytopia Ltd [2009] VSC 560 - Re Dyno Nobel Ltd [2008] VSC 154 - Re Intecq Ltd [2016] NSWSC 1429 - Re Investa Properties Ltd [2007] FCA 1104; (2007) 25 ACLC 1186 - Re NRMA Ltd (No 1) [2000] NSWSC 82; (2000) 33 ACSR 595 - Re Orion Telecommunications Ltd [2007] FCA 1389 - Re Prime Infrastructure Holdings Ltd [2010] NSWSC 1104; (2010) 80 ACSR 193 - Re SAI Global Ltd [2016] FCA 1312 - Re SFE Corporation Ltd [2006] FCA 670; (2006) 59 ACSR 82 - Re Talent2 International Ltd [2012] FCA 771 - Re The Trust Company Ltd [2013] NSWSC 1680 - Re Toll Holdings Ltd [2015] VSC 123 - Re Veda Group Ltd [2015] FCA 1506 - Re WebCentral Group Ltd [2006] FCA 937 - Re Wridgways Australia Ltd [2010] FCA 1187 Texts Cited: - T Damian & A Rich, Schemes, Takeovers and Himalayan Peaks: The use of schemes of arrangement to effect change of control transactions, 3rd ed, 2013 Category: Principal judgment Parties: Pulse Health Limited (Plaintiff) Representation: Counsel: G Rich (Plaintiff) N Kidd (Healthe Care Australia Pty Ltd)