Avita Medical Limited, in the matter of Avita Medical Limited (No 2)

Avita Medical Limited sought an order that a meeting of its members be convened to approve a proposed scheme of arrangement to redomicile the company from Australia to the United States. The application was heard in the Federal Court of Australia. The primary legal issue was whether the court should compel Avita Medical Limited to convene a meeting of its members to consider and vote on the proposed scheme. A further issue was the appropriate terms and conditions for the convening and conduct of such a meeting.

The court found that the application should be granted as the members had not been given a reasonable opportunity to consider and vote on the scheme. The court was satisfied that the proposed scheme was fair and reasonable and in the best interests of the company and its members. The court further held that a virtual meeting was appropriate given the current circumstances of the COVID-19 pandemic. The court also made orders regarding the convening of the meeting, the distribution of the scheme booklet, and the conduct of the meeting, including the appointment of a chair and the timeframe for the return of proxies.

The final orders of the court were that Avita Medical Limited must convene and hold a meeting of its members to consider and vote on the proposed scheme, with specific details regarding the form and distribution of the scheme booklet and the conduct of the meeting. The court also made orders regarding the publication of an advertisement in relation to the meeting and the adjournment of the further hearing of the originating process.