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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Keybridge Capital Limited v WAM Active Limited (No 2) [2024] FCAFC 72
COSTS – whether costs of unsuccessful appeal should be paid on an indemnity basis
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Australian Securities and Investments Commission v LGSS Pty Ltd [2024] FCA 587
BANKING AND FINANCIAL INSTITUTIONS – application by Australian Securities and Investments Commission (ASIC) alleging that defendant contravened ss 12DB(1)(a) and 12DF(1) of the Australian Securities and Investments Commission Act 2001 (Cth) by making false or misleading representations, and engaging in conduct liable to mislead the public in relation to investments made by the superannuation fund…
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Australian Securities and Investments Commission v Web3 Ventures Pty Ltd (Penalty) [2024] FCA 578
CORPORATIONS – civil penalty – whether to relieve defendant from liability – where defendant contravened Corporations Act ss 911A and 601ED – where contraventions involved investing customer funds in cryptocurrency – where defendant perceived there to be legal uncertainty, obtained competent legal advice, and genuinely concluded that there was no identified risk of breaching the…
