Re Staging Connections Group Ltd (No 2)

The case of Re Staging Connections Group Ltd (No 2) involved Staging Connections Group Limited and its shareholders. The matter before the court was the approval of a scheme of arrangement under s 411(4)(b) of the Corporations Act 2001 (Cth). The court had to determine whether the statutory requirements for the approval of the scheme had been met, including whether the necessary majority of shareholders had approved the scheme, whether the conditions precedent had been fulfilled, and whether ASIC had raised any objections to the scheme. The court also had to consider whether the scheme was in accordance with public policy.

The court found that the statutory majority required for the approval of the scheme had been obtained, and that all conditions precedent had been met or waived. The court was also satisfied that ASIC had not raised any objections to the scheme. The court concluded that the scheme was in accordance with public policy, and that there were no reasons to deny approval of the scheme.

The court made orders approving the scheme of arrangement between Staging Connections Group Limited and its shareholders, and exempted the company from compliance with certain provisions of the Corporations Act 2001 (Cth) in relation to the scheme. The court also ordered that the company lodge a copy of the approved scheme with ASIC. There was no order as to costs, and the orders were to be entered forthwith.