In the matter of iCar Asia Limited (No 2)

The case involved iCar Asia Limited, and the nature of the dispute was an application under section 411 of the Corporations Act 2001 (Cth) for orders approving a scheme of arrangement. The court was asked to consider whether the scheme of arrangement should be approved, given that the formal requirements had been satisfied.

The legal issues before the court centred on whether the scheme of arrangement met the requirements of the Corporations Act and whether it was fair and equitable to all stakeholders. The court had to assess whether the scheme provided a reasonable and practical solution to the company's financial difficulties and whether it was in the best interest of the company and its stakeholders.

The court, in its reasoning, found that the scheme of arrangement did meet the formal requirements set out in the Corporations Act. It determined that the scheme was fair and equitable to all stakeholders, providing a reasonable and practical solution to the company's financial difficulties. The court concluded that the scheme was in the best interest of the company and its stakeholders. Consequently, the court approved the scheme of arrangement.

The final orders of the court were that the scheme of arrangement proposed by iCar Asia Limited should be approved, and the necessary orders were made under section 411 of the Corporations Act 2001 (Cth).