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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Jiang v Slater & Gordon Ltd [2024] FCA 617
PRACTICE AND PROCEDURE – summary dismissal – shareholders commenced proceedings against target of successful compulsory takeover bid seeking relief under s 661E of the Corporations Act 2001 (Cth) – where s 661E allows minority shareholder subject to compulsory acquisition notice to apply to Court for an order that shares not be compulsorily acquired – held…
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Australasian Global Exports Pty Ltd v The Ship M/V Yangtze Fortune, the Proceeds of Sale [2024] FCA 614
ARBITRATION – application for enforcement of foreign arbitral award under s 8(3) of the International Arbitration Act 1974 (Cth) – one-stage process – award debtor served abroad – whether notice period adequate – award enforced and judgment entered, but judgment stayed for period of time to allow a challenge, if any
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Hill v Skilled Workforce Solutions (NSW) Pty Ltd [2024] FCA 603
REPRESENTATIVE PROCEEDINGS – Practice and Procedure — application under s 33V of the Federal Court of Australia Act 1976 (Cth) for approval to discontinue representative proceeding – relevant principles regarding approval to discontinue- order under s 33V(1) and 33ZF that the limitation period starts to run again – discontinuance approved
