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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Australian Securities and Investments Commission v Daly (Penalty Hearing) [2024] FCA 3
CORPORATIONS — civil penalty proceedings — penalty phase — duties of officers of responsible entity of a registered managed investment scheme — where respondents found to have breached duties owed pursuant to s 601FD(1) and thereby breached s 601FD(3), a civil penalty provision, of the Corporations Act 2001 (Cth) — where three of four respondents…
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Australian Securities and Investments Commission v Australia and New Zealand Banking Group Limited (No 3) [2023] FCA 1565
CORPORATIONS – continuous disclosure – pecuniary penalty – where, in an earlier judgment, the Court found that the defendant had contravened s 674(2) of the Corporations Act 2001 (Cth) – where the maximum penalty at the relevant time was $1 million – consideration of applicable principles – consideration of appropriate penalty – held: penalty of…
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Lucky v Ives [2023] FCA 1571
CORPORATIONS – application for leave pursuant to s 237 of the Corporations Act 2001 (Cth) to take steps to defend proceedings – where the company imminently faces an application for default judgment – where joint directors cannot agree on the appointment of solicitors – whether the scope of the leave granted should be limited –…
