CORPORATIONS – application for compulsory acquisition of residual ordinary shares of Carawine Resources Limited – where the applicant is the “90% holder” of the relevant class of securities – where the applicant’s compliance with Division 1 of Part 6A.2 of the Corporations Act 2001 (Cth) (the Act) is irregular in part – whether appropriate to remediate such irregularities pursuant to s 1322 of the Act – where the applicant lodged a compulsory acquisition notice with the Australian Securities & Investments Commission on 21 March 2024 – where the notice relies upon the opinion expressed in an expert’s report dated 26 February 2024 – whether expert’s report inconsistent with the Act or otherwise deficient – whether applicant has established that the terms set out in the compulsory acquisition notice give a “fair value” for the relevant securities – application granted – costs reserved
Recent cases about acquisitions
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Commonwealth Director of Public Prosecutions v Forrest [2026] FCA 14
CRIMINAL LAW – sentencing – where offender charged with two rolled up insider trading offences contrary to ss 1043A(1) and 1311(1) of the Corporations Act 2001 (Cth) – where offender pleaded guilty to all charges at an early stage – where offender did not give oral evidence at sentence hearing – HELD: sentence of six years…
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DC Rd DC Pty Ltd v Zhang (Trial Judgment) [2026] FCA 16
EQUITY – application for equitable relief and personal remedies for breaches of fiduciary duties – where applicant relied on respondents (property developers and an accountant) identifying and proposing properties to be purchased on applicants’ behalf – where respondents informed applicants that property would be purchased in applicant-company’s name for $45m – where respondents fashioned a…
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First Class Securities Limited v Global Future Holdings Pty Ltd [2026] FCA 1
PRACTICE AND PROCEDURE – urgent ex parte application for freezing orders under r 7.32 of the Federal Court Rules 2011 (Cth) – consideration of applicable principles – consideration of suspicious, irregular and unusual explanations for the non-repayment of an acknowledged debt of USD $7.5 million – orders made
