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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Langton v Eco-Growth International Pty Ltd [2023] FCA 743
PRACTICE AND PROCEDURE – where the applicant files an originating application under Fair Work Act 2009 (Cth) (Fair Work Act) alleging contravention of a general protection but seeks relief under ss 1317AE, 1317G and s 233 of Corporations Act 2011 (Cth) (Corporations Act) as a minority shareholder – where the respondent failed to file defence as…
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Equity Financial Planners Pty Ltd v AMP Financial Planning Pty Ltd [2023] FCA 741
CONTRACT – construction – where the applicant and group members were authorised representatives of the respondent (AMPFP) – where the contracts between the applicant/group members and AMPFP included a buyer of last resort (BOLR) policy that provided for AMPFP to buy back the register rights of the authorised representative at a multiple of 4.0x ongoing…
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Australian Securities and Investments Commission v Select AFSL Pty Ltd (No 3) [2023] FCA 723
CORPORATIONS – conflicted remuneration – consumer law – banking and financial institutions – directors’ duties – contraventions by corporate defendants and individual defendant – numerous breaches of Corporations Act 2001 (Cth) and Australian Securities and Investments Commission Act 2001 (Cth) – assessment of pecuniary penalties and other relief – where individual defendant did not give…
