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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Haycraft v AF1 Services Pty Ltd [2023] FCA 774
CORPORATIONS – application for winding up of a company on just and equitable grounds under s 461(1)(k) of the Corporations Act 2001 (Cth) – where directors of the company disagree on aspects of the conduct of the business – where relevant business is profitable, solvent and has many employees – applicable principles to just and…
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Howden v Australian Securities and Investments Commission [2023] FCA 907
PRACTICE AND PROCEDURE – application for stay of disqualification order, order requiring payment of a pecuniary penalty and costs order pending appeal – application dismissed
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Naturally Australian Tea Tree Oil Pty Ltd v Jellyman [2024] FCA 625
CORPORATIONS LAW — application to set aside statutory demand – whether genuine dispute within meaning of s 459H Corporations Act 2001 (Cth) – relevant principles – company alleged breach of fiduciary duties, unconscionable conduct and duress on part of defendant – defendant previously director and company solicitor of plaintiff
