In the matter of Prime Media Group Limited [2019] NSWSC 1805

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Prime Media Group Limited [2019] NSWSC 1805 Hearing dates: 15 November 2019 Date of orders: 15 November 2019 Decision date: 16 December 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made convening scheme meeting and approving the scheme booklet for distribution. 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, approve a proposed scheme of arrangement – where independent expert concludes that scheme is reasonable and in best interests of shareholders but is unfair – whether requirements to order scheme meeting are satisfied. Legislation Cited: - Corporations Act 2001 (Cth) Pt 5.1; ss 9, 411, 411(1), 1319 Cases Cited: - Re APN News & Media Limited (2007) 62 ACSR 400 - Re Ardent Leisure Ltd [2018] NSWSC 1665 - Re Arthur Yates & Co Ltd (2001) 36 ACSR 758 - Re BigAir Group Ltd [2016] FCA 1296 - Re Blackgold International Holdings Limited (No 2) [2017] FCA 772 - Re Blackgold International Holdings Limited [2017] FCA 601 - Re Bulletproof Group Limited (No 2) [2018] FCA 868 - Re Bulletproof Group Limited [2018] FCA 497 - Re CIC Australia Ltd (No 2) [2015] NSWSC 1314 - Re CIC Australia Ltd [2015] NSWSC 557 - Re Coles Group Limited (2007) 25 ACLC 1380 - Re Cytopia Ltd (No 2) [2010] VSC 4 - Re DUET Finance Limited [2017] NSWSC 415 - Re Gazal Corporation Ltd [2019] FCA 701 - Re GBST Holdings Limited [2019] NSWSC 1280 - Re GRD Ltd [2009] FCA 1595 - Re Hostworks Group Ltd (2008) 26 ACLC 137 - Re Investa Listed Funds Management Ltd as responsible entity for the Armstrong Jones Office Fund and the Prime Credit Property Trust [2018] NSWSC 1766 - Re Kidman Resources Ltd [2019] FCA 1226 - Re Konekt Ltd [2019] FCA 1811 - Re Macquarie Private Capital A Limited (2008) 26 ACLC 366 - Re Navitas Ltd (No 2) [2019] WASC 218 - Re Nzuri Copper Ltd [2019] WASC 189 - Re PR Finance Group Ltd [2013] FCA 504 - Re Ruralco Holdings Ltd [2019] FCA 878 - Re SAI Global Ltd [2016] FCA 1312 - Re SFE Corporation Ltd (2006) 59 ACSR 82 - Re Signature Gold Ltd [2017] FCA 766 - Re Sino Gas & Energy Holdings Ltd [2018] FCA 1183 - Re SMS Management & Technology Ltd [2017] VSC 257 - Re Toll Holdings Ltd [2015] VSC 123 - Re Veda Group Ltd [2015] FCA 1506 - Re Villa World Ltd [2019] NSWSC 1207 Category: Principal judgment Parties: Prime Media Group Limited (Plaintiff) Seven West Media Limited (Interested Party) Representation: Counsel: J R J Lockhart SC (Plaintiff) J Williams (Interested Party)