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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Greensill Bank AG v Insurance Australia Limited (Anti-Anti-Suit Injunction Application) [2025] FCA 1241
PRIVATE INTERNATIONAL LAW – anti-anti-suit injunction – where there are eleven proceedings (the Greensill Proceedings) before this Court related to the purported issue of insurance policies and liability to pay amounts under those policies – where allegations of concurrent wrongdoing were raised against Marsh Ltd (an English company) and Marsh Pty Ltd (an Australian company)…
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Butler v Total Tools Holdings Pty Ltd [2025] FCA 1225
CORPORATIONS – shareholders’ resolution authorising board of company to issue an equity-based instrument to non-executive directors upon successful financial close of an initial public offering or trade sale – where plaintiff resigned as non-executive director following failure to complete trade sale originally contemplated – where separate trade sale subsequently completed – where company refused to…
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Australian Securities and Investments Commission v Macrolend Pty Ltd (No 3) [2025] FCA 1158
CORPORATIONS – debenture – whether certain loan and promissory note arrangements were “financial products” by reason of being debentures within the meaning of s 9 of the Corporations Act 2001 (Cth) CORPORATIONS – alleged contraventions of ss 911A(1) and 911A(5B) of the Corporations Act – whether first defendant company and third defendant company carried on…
