Re PetroNor E&P Ltd; [No 2]

The plaintiff, PetroNor E&P Limited, applied for orders approving a proposed scheme of arrangement (Scheme). The Scheme was for PetroNor to be acquired by PetroNor E&P ASA. The matter came before Hill J on 17 February 2022. The court had to determine whether to exercise its discretion to approve the proposed Scheme. The court considered whether PetroNor had complied with all statutory and procedural requirements, and whether the proposed Scheme was fair and reasonable. Hill J was satisfied that all requirements were met and approved the Scheme. The orders were made on 17 February 2022.