Nine Entertainment Group Limited, in the matter of Nine Entertainment Group Limited (No 2)

This case concerns an application by Nine Entertainment Group Limited (the "Company") to the Federal Court of Australia to approve a scheme of arrangement with its creditors. The scheme was initially opposed by a group of senior creditors, but they subsequently withdrew their opposition. The court was required to decide whether the scheme was fair and reasonable and whether all necessary procedural steps and conditions precedent had been satisfied. The court considered the scheme's fairness and reasonableness based on an independent expert report from PPB Advisory, and found that it appeared fair and reasonable. The court was also satisfied that all necessary procedural steps had been completed and all conditions precedent had been satisfied. The court approved the scheme of arrangement between Nine Entertainment Group Limited and its creditors, and made orders appointing administrators for the scheme. The court also noted that the Company intends to rely on the court's approval for the purpose of qualifying for an exemption from the registration requirements of the U.S. Securities Act of 1933.