In the matter of Villa World Limited [2019] NSWSC 1509

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Villa World Limited [2019] NSWSC 1509 Hearing dates: 15 October 2019 Date of orders: 15 October 2019 Decision date: 04 November 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made approving the scheme of arrangement. Catchwords: CORPORATIONS – scheme of arrangement – application for orders approving scheme of arrangement – where scheme of arrangement involves shareholders in target company transferring their shares to acquirer – where votes cast satisfy statutory majorities – whether scheme of arrangement should be approved. Legislation Cited: - Corporations Act 2001 (Cth) ss 411(1), 411(3), 411(4), 411(4)(a)(ii)(A), 411(4)(a)(ii)(B), 411(4)(b), 411(6), 411(11), 411(12), 411(17)(b), 412 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 Alabama, New Orleans, Texas and Pacific Junction Railway Co [1891] 1 Ch 213 - Re Medical Australia Ltd (No 2) [2017] FCA 1429 - Re Seven Network Ltd (No 3) [2010] FCA 400 - Re Signature Capital Investments Limited (No 2) [2016] FCA 385 - Re Toll Holdings Ltd (No 2) [2015] VSC 236 - Re Villa World Limited [2019] NSWSC 1207 Category: Principal judgment Parties: Villa World Limited (Plaintiff) AVID Property Group Australia Pty Limited (Interested Party) Representation: Counsel: I M Jackman SC (Plaintiff) M Oakes SC (Interested Party)