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
-
Alumina and Bauxite Company Ltd v Queensland Alumina Ltd [2024] FCA 43
CONTRACT – where applicants are subsidiaries of company registered in Russian Federation – where first respondent (QAL) operates alumina refinery in Gladstone under agreements with applicants and second to sixth respondents (Rio parties) – where pursuant to those agreements the Rio parties supply bauxite to the first applicant (ABC) and ship the bauxite to Gladstone…
-
Coastal Karts Pty Ltd v Bellandra Holdings Pty Ltd (No 2) [2024] FCA 41
CONSUMER LAW – misleading or deceptive conduct in contravention of s 18 of the Australian Consumer Law – representations made in the sale of a business – where the sale of a business was for three businesses bundled as one – whether the seller informed the buyer that the sale would be for three businesses…
-
Sev.en Gamma a.s. v IG Power (Callide) Pty Ltd (Administrators Appointed) [2024] FCA 30
CORPORATIONS – company in administration – whether leave to commence proceedings should be granted nunc pro tunc under s 440D(1)(b) of the Corporations Act 2001 (Cth) – where proceedings are not brought to assert an antecedent right against the company or the property – where proceedings are for specific relief that does not target or…
