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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Australian Securities and Investments Commission v Hawkins [2025] FCA 121
CORPORATIONS – officer’s duties under s 180(1) of the Corporations Act 2001 (Cth) – civil penalties – disqualification from managing corporations – where ASIC commenced civil penalty proceedings against eleven members of the executive team and board of the Star Entertainment Group Ltd in respect of alleged contraventions in the course of dealings with junkets…
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Marlu Transport Solutions Pty Ltd v Bishdun Pty Ltd [2025] FCA 118
PRACTICE AND PROCEDURE – application for interlocutory injunction – applicant entered into agreements with first and fifth respondents for sale of business, issue of preference shares to fifth respondent, grant of security over assets of business, and company and personal guarantees – applicant defaulted on obligation to make payments to fifth respondent – applicant alleges…
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Fortrend Securities Pty Ltd v Wollermann (No 2) [2025] FCA 96
CORPORATIONS – alleged breaches of equitable duty of confidence, fiduciary duties and statutory obligations by former employee – where clients moved from applicants to the respondents’ new employer – whether respondents breached the employment contract or used confidential information to solicit former clients – whether new employer liable as an accessory or for inducing breach…
