In the matter of Brickworks Limited; In the matter of Washington H. Soul Pattinson and Company Limited
[2025] NSWSC 905
Para 32
…]; [2017] NSWCA 116; Re Healthscope Ltd (2019) 139 ACSR 608 at [107]; [2019] FCA 542; Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [29] (“ Villa World ”); Re APM Human Services International Ltd [2024] NSWSC 1095 at [20].…
Platinum Capital Limited, in the matter of Platinum Capital Limited
[2025] FCA 745
Para 4
…at [25] (Jackman J)) and are not inconsistent with the Takeovers Panel’s Guidance Note 7: Deal Protection ( TP Guidance 7 ): see Re Villa World Ltd [2019] NSWSC 1207; 139 ACSR 550 at [23] (Black J).…
Platinum Asia Investments Limited, in the matter of Platinum Asia Investments Limited
[2025] FCA 746
Para 1
…at [25] (Jackman J)) and are not inconsistent with the Takeovers Panel’s Guidance Note 7: Deal Protection ( TP Guidance 7 ): see Re Villa World Ltd [2019] NSWSC 1207; 139 ACSR 550 at [23] (Black J).…
In the matter of Domain Holdings Australia Limited
[2025] NSWSC 701
Para 17
…inconsistent with the Takeovers Panel’s guidance as to “deal protection”: Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [23] (“ Villa World ”); Ansarada at [23].…
In the matter of Mayne Pharma Group Limited
[2025] NSWSC 513
Para 21
…e not inconsistent with the Takeovers Panel’s guidance as to “deal protection”: Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [23] (“ Villa World ”). The exclusivity provisions here apply in the “Exclusivity Period” which is defined in the dictionary of the SID to be the earlier of: (a) the terminatio…
In the matter of AV Jennings Limited
[2025] NSWSC 500
Para 14
…t inconsistent with the Takeovers Panel’s guidance as to “deal protection”: Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [23] (“ Villa World ”).…
In the matter of Online Media Holdings Limited
[2025] NSWSC 378
Para 16
…es of arrangement and are not inconsistent with the Takeovers Panel’s guidance as to “deal protection”: Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 (“ Villa World ”) at [23]. The Court is concerned to ensure that any exclusivity period should be for no more than a reasonable period, capable of precise…
In the matter of SG Fleet Group Limited
[2025] NSWSC 214
Para 12
…ate even for it to be submitted for consideration: Re Abacus Funds Management Ltd (2006) 24 ACLC 211 at [23]; Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [18].…
In the matter of Mason Stevens Group Limited
[2025] NSWSC 84
Para 15
…that it could influence voting at the meeting to be convened and there are no other unusual circumstances: Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 (“ Villa World ”) at [24]. The varied break fee is consistent with the Takeover Panel’s 1% guideline and this matter now gives rise to no reason not to…
In the matter of Silk Logistics Holdings Limited
[2025] NSWSC 1
Para 11
…d the principles which apply to the exercise of the Court’s discretion whether to convene a scheme meeting in, among many cases, Re Villa World Ltd [2019] NSWSC 1207 ( “Villa World” ) at [15]-[19]. Mr Barnett refers to the summary of these principles in Re Absolute Equity Performance Fund Ltd [2022] FCA 933 at [18]-…
In the matter of Xref Limited
[2024] NSWSC 1673
Para 10
…d the principles which apply to the exercise of the Court’s discretion whether to convene a scheme meeting in, among many cases, Re Villa World Ltd [2019] NSWSC 1207 ( “Villa World” ) at [15]-[19] and, in Re Absolute Equity Performance Fund Ltd [2022] FCA 933 at [18]-[22], Halley J summarised these principles as fol…
In the matter of Sunland Group Limited
[2024] NSWSC 1591
Para 8
…the Court’s approval if the necessary majority of votes is achieved: Re Atlas Iron Ltd (2016) 112 ACSR 554 at [30]; Re Villa World Ltd [2019] NSWSC 1207 at [15]; Re Staging Connections Group Ltd [2015] FCA 1012 at [19]-[20]; Re Ellerston Global Investments Ltd [2020] NSWSC 879 (“ Ellerston ”) at [25]; Re Vocus Grou…
In the matter of Southern Cross Gold Limited
[2024] NSWSC 1470
Para 13
…d the principles which apply to the exercise of the Court’s discretion whether to convene a scheme meeting in, among many cases, Re Villa World Ltd [2019] NSWSC 1207 ( “Villa World” ) at [15]-[19] and, in Re Absolute Equity Performance Fund Ltd [2022] FCA 933 at [18]-[22], Halley J summarised these principles as fol…
In the matter of Bionomics Ltd
[2024] NSWSC 1440
Para 17
…d the principles which apply to the exercise of the Court’s discretion whether to convene a scheme meeting in, among many cases, Re Villa World Ltd [2019] NSWSC 1207 ( “Villa World” ) at [15]-[19]; see also Re Absolute Equity Performance Fund Ltd [2022] FCA 933 at [18]-[22]. I accept that, subject to several further…
In the matter of Auswide Bank Limited
[2024] NSWSC 1362
Para 14
…d the principles which apply to the exercise of the Court’s discretion whether to convene a scheme meeting in, among many cases, Re Villa World Ltd [2019] NSWSC 1207 ( “Villa World” ) at [15]-[19] and, in Re Absolute Equity Performance Fund Ltd [2022] FCA 933 at [18]-[22], Halley J summarised these principles as fol…
Capitol Health Limited, in the matter of Capitol Health Limited
[2024] FCA 1120
Para 22
…ted [2017] VSC 257 at [26], O’Callaghan J in Re Kidman Resources Limited (2019) 375 ALR 760 at [105] to [113] and Black J in Re Villa World Limited (2019) 139 ACSR 550 at [38] to [40] on this topic (see also my observations in Re RXP Services Limited [2021] FCA 38 at [46] to [48]).…
Rex Minerals Limited, in the matter of Rex Minerals Limited
[2024] FCA 1051
Para 9
…019] FCA 2172 at [85]-[88]; Re RXP Services Ltd [2021] FCA 38 at [41]-[48]; Re BINGO Industries Ltd [2021] NSWSC 798 at [14]-[16]; Re Villa World Ltd [2019] NSWSC 1207; 139 ACSR 550 at [27]-[40]; Re ERM Power Ltd [2019] NSWSC 1502 at [16]-[18]; Re Isentia Group Ltd [2021] NSWSC 910 at [19]; Re Japara Healthcare Limi…
In the matter of Pacific Smiles Group Limited
[2024] NSWSC 812
Para 10
…exercise of the Court’s discretion whether to convene a scheme meeting have been summarised in, among many cases, my decision in Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19]. The Court will consider whether the proposed scheme is fit for consideration at the proposed scheme meeting, in the sense that it is of s…
In the matter of QANTM Intellectual Property Limited
[2024] NSWSC 809
Para 11
…I also set out the principles which apply to the exercise of the Court’s discretion at a first Court hearing in my judgment in Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19]. The Court will also wish to be satisfied that the scheme booklet provides proper disclosure to shareholders and that the scheme is fit for…
In the matter of Prospa Group Limited
[2024] NSWSC 790
Para 12
…der whether the Court should in its discretion exercise its power under s 411(1) of the Act . Mr Williams refers to my judgment in Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19] in that regard. I also summarised the principles relevant to the exercise of that discretion in Re Origin Energy [2023] NSWSC 1246 at [2…
Re Altium Ltd
[2024] NSWSC 736
Para 15
…s which apply to the exercise of the Court’s discretion whether to convene a scheme meeting, as summarised in, among many cases, Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19]. He submits and I also accept that the Court will consider whether the proposed scheme is fit for consideration at the proposed scheme mee…
In the matter of TASK Group Holdings Limited
[2024] NSWSC 646
Para 23
…terest to allow shareholders to determine what weight they give to that recommendation in the circumstances: see, for example, Re Villa World Ltd [2019] NSWSC 1207; (2019) 139 ACSR 550 at [38]-[40] (Black J); Re DWS Ltd [2020] FCA 1590; (2020) 148 ACSR 616 at [41]-[49] (Beach J), including the cases referred to at […
In the matter of Silver Lake Resources Limited
[2024] NSWSC 631
Para 14
…me booklet: Re Arthur Yates & Co Ltd (2001) 36 ACSR 758; [2001] NSWSC 40 at [9] ; Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [23]; Re Aveo Group Ltd and Aveo Funds Management Ltd [2019] NSWSC 1348 at [44]. These provisions are adequately disclosed in the scheme booklet. Mr Izzo also points out that…
Re McGrath Ltd
[2024] NSWSC 555
Para 14
…apply to the exercise of the Court’s discretion are well‑understood, and he refers to my observations in Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [17]-[19] that:…
In the matter of Adbri Limited
[2024] NSWSC 546
Para 12
…notes the principles which apply to the exercise of the Court’s discretion at a first Court hearing and refers to my judgment in Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19]. The Court will also wish to be satisfied that the scheme booklet provides proper disclosure to shareholders and that the scheme is fit fo…
In the matter of CSR Limited
[2024] NSWSC 502
Para 14
…Mr Thomas also refers to my summary of the principles which apply to the exercise of the Court’s discretion in Re Villa World Ltd [2019] NSWSC 1207 at [17]-[19], as follows:…
In the matter of Ansarada Group Limited
[2024] NSWSC 411
Para 18
…in the explanatory booklet: Re Sirtex Medical Ltd [2018] FCA 1315 at [37]; Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 (“ Villa World ”) at [23]; Re Asaleo Care Ltd [2021] FCA 406 at [55]; Re Trust Co (Re Services) Ltd as responsible entity of VitalHarvest Freehold Trust [2021] NSWSC 108 at [38]-[40].…
Re Link Administration Holdings Ltd
[2024] NSWSC 331
Para 10
…eting of members under s 411(1) of the Act are well settled and refers to my summaries of those principles in Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [15]-[19] and in Re InvoCare Ltd [2023] NSWSC 1180 at [14].…
Re Millennium Services Group Ltd
[2024] NSWSC 307
Para 10
…[30]; Re DUET Finance Ltd [2017] NSWSC 415 (“ DUET Finance ”) at [15]; Re BIS Finance Pty Ltd [2017] NSWSC 1713 at [20]; Re Villa World Ltd [2019] NSWSC 1207 (“ Villa World ”) at [15]; Re Healthia Ltd [2023] NSWSC 1296 (“ Healthia ”) at [11]-[13]. As Ms Scott also points out, the Court is not concerned with the busi…
In the matter of Damstra Holdings Limited
[2024] NSWSC 284
Para 17
…f arrangement and are not inconsistent with the Takeovers Panel’s Guidance 7: Lock-up Devices; Re Villa World Ltd (2019) 139 ACSR 550 at [23] (“ Villa World ”). Mr Izzo also draws attention to matters to which the Court will have regard in assessing such provisions, including that any exclusivity period should be for…
In the matter of A2B Australia Limited
[2024] NSWSC 185
Para 11
…the scheme booklet: Re Arthur Yates & Co Ltd (2001) 36 ACSR 758; [2001] NSWSC 40 at [9] ; Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [23]; Re Aveo Group Ltd and Aveo Funds Management Ltd [2019] NSWSC 1348 at [44]. These provisions are adequately disclosed in the scheme booklet and otherwise give ri…
Lithium Power International Ltd, in the matter of Lithium Power International Ltd
[2023] FCA 1637
Para 10
…have made the recommendation that they have. See, for example, Re Kidman Resources Ltd [2019] FCA 1226; 375 ALR 760 at [113] and Re Villa World Ltd [2019] NSWSC 1207; 139 ACSR 550 at [34]-[40].…
In the matter of Intersnack Mid Co Pty Ltd
[2023] NSWSC 1549
Para 15
…at [19]- [20]; Re Atlas Iron Ltd [2016] FCA 366; (2016) 112 ACSR 554 at [30]; Re Duet Finance Ltd [2017] NSWSC 415 at [15]; Re Villa World Ltd [2019] NSWSC 1207 at [15]. The Court will not ordinarily summon a meeting at the first court hearing unless the scheme is of such a nature and cast in such terms that, if it…
Re Healthia Ltd
[2023] NSWSC 1296
Para 13
…I also summarised the principles to which I have referred above in Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19] and Mr Izzo also cites Re PropTech Group Ltd [2022] FCA 1606 at [19] in that regard.…
Re Thorn Group Ltd
[2023] NSWSC 1299
Para 11
…verning an application for orders to convene a meeting of members under s 411(1) of the Act are well settled: Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 (“ Villa World ”) at [15]-[16]; Re Kidman Resources Ltd (2019) 375 ALR 760; [2019] FCA 1226 (“ Kidman Resources ”) at [22]; Re Nitro Software Ltd [20…
Re Origin Energy Ltd
[2023] NSWSC 1246
Para 23
…Mr Williams also refers to my judgment in Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19], where I summarised the principles to which I have referred above.…
Re Estia Health Ltd
[2023] NSWSC 1256
Para 14
…SR 252; [2002] FCA 742 at [36] and [44], cited with apparent approval in Re CSR Ltd (2010) 183 FCR 358; [2010] FCAFC 34 at [58]; Re Villa World Ltd [2019] NSWSC 1207 at [15]-[19]; Re PropTech Group Ltd [2022] FCA 1606 at [19]; InvoCare at [16]-[17]. Mr Izzo submits and I accept that the scheme is an orthodox all-cas…
Re Blackmores Ltd
[2023] FCA 624
Para 7
…when considering that director's recommendation: Re Kidman Resources Limited [2019] FCA 1226 at [104]-[115] (O'Callaghan J); Re Villa World Limited [2019] NSWSC 1207; (2019) 139 ACSR 550 at [27]-[40] (Black J). A director’s recommendation is acceptable if sufficient disclosure of the relevant director's interest in…
Re Essential Metals Ltd
[2023] FCA 240
Para 58
…] (Robson J); Kidman Resources Limited, in the matter of Kidman Resources Limited [2019] FCA 1226 at [105]-[113] (O'Callghan J); Re Villa World Ltd [2019] NSWSC 1207 at [38]-[40] (Black J); Re ERM Power Limited v Shell Energy Australia Pty Ltd [2019] NSWSC 1502 at [18] (Black J); DWS Limited, in the matter of DWS Li…
Re Nitro Software Ltd
[2023] NSWSC 13
Para 11
…hieved: Re DUET Finance Ltd [2017] NSWSC 415 at [15]; Re BIS Finance Pty Ltd [2017] NSWSC 1713 at [20]; Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 at [15]. Mr Thomas also rightly recognises that, at the first Court hearing, the Court will not ordinarily summon a scheme meeting unless the scheme is of…
Re Security Matters Limited
[2023] FCA 19
Para 29
…forward the scheme”. See generally Re Kidman Resources Ltd [2019] FCA 1226; (2019) 375 ALR 760 at 778 –782 [99]–[115]; Re Villa World Ltd [2019] NSWSC 1207; (2019) 139 ACSR 550 at [38]–[40] ; Re GBST Holdings Ltd [2019] NSWSC 1280 at [24] –[30]; and Re ERM Power Ltd [2019] NSWSC 1502 at [16] –[18] . The question is,…
In the matter of MSL Solutions Limited
[2022] NSWSC 1783
Para 18
…er an interested director can properly make recommendations in respect of a scheme, which has been addressed in case law including Re Villa World Ltd [2019] NSWSC 1207; Re GBST Holdings Ltd [2019] NSWSC 1280 at [24]-[30]; Re DWS Ltd [2020] FCA 1590 at [41]-[49]; Re BINGO Industries Ltd [2021] NSWSC 798; Re RXP Servi…
Re Pendal Group Ltd (No 2)
[2022] NSWSC 1648
Para 15
…Iron Ltd (2016) 112 ACSR 554; [2016] FCA 366 at [30]; Re DUET Finance Ltd [2017] NSWSC 415 (“ DUET Finance ”) at [15]; Re Villa World Ltd [2019] NSWSC 1207 (“ Villa World ”) at [15].…
Re Beyond International Ltd
[2022] NSWSC 1649
Para 30
…ng Mr Borglund’s recommendation and refers to several decisions in this Court which have addressed similar issues, including Re Villa World Ltd [2019] NSWSC 1207 (“ Villa World ”) at [38]-[40]; Re GBST Holdings Ltd [2019] NSWSC 1280 at [30]; Re Windlab Ltd [2020] NSWSC 571 (“ Windlab ”) at [22]-[23]; Re Coca-Cola Am…
iSelect Limited, in the matter of iSelect Limited
[2022] FCA 1329
…FCA 1042 Re Toll Holdings [2015] VSC 123 Re Tox Free Solutions Ltd [2018] FCA 977 Re Verdant Minerals Ltd [2019] FCA 556 Re Villa World Ltd (2019) 139 ACSR 550 Re Wellcom Group Limited [2019] FCA 1655 Division: General Division Registry: Victoria National Practice Area: Commercial and Corporations Sub-area: Corporatio…
In the matter of PTB Group Limited
[2022] NSWSC 1494
Para 14
…to the question between different judges in the Federal Court of Australia. Mr Oakes refers to my observations as to this issue in Re Villa World Ltd [2019] NSWSC 1207 as follows:…
Re ThinkSmart Ltd
[2022] FCA 1314
Para 13
…616 at [42]-[49]; Re RXP Services Ltd [2021] FCA 38 at [41]-[48]; Re BINGO Industries Ltd [2021] NSWSC 798 at [14]-[16]; Re Villa World Ltd [[2019] NSWSC 1207;] (2019) 139 ACSR 550 at [27]-[40]; Re ERM Power Ltd [2019] NSWSC 1502 at [16]-[18]; Re Isentia Group Ltd [2021] NSWSC 910 at [19]. It has been observed that…
Nearmap Ltd, in the matter of Nearmap Ltd
[2022] FCA 1291
Para 3
…2021] FCA 38. In each case separate scheme meetings were not required. See further, Re Spicers Limited [2019] FCA 731; Re QMS; Re Villa World Limited [2019] NSWSC 1207; 139 ACSR 550; Re ERM Power Limited [2019] NSWSC 1502.…
Re Tassal Group Ltd
[2022] NSWSC 1414
Para 16
…e Ltd [2017] NSWSC 415 at [15] (“ DUET Finance ”); Re BIS Finance Pty Ltd [2017] NSWSC 1713 at [20] (“ BIS Finance ”); Re Villa World Ltd [2019] NSWSC 1207 (“ Villa World ”) at [15].…
Re Kyckr Ltd
[2022] NSWSC 1316
…tructure RE Ltd [2021] NSWSC 1564 - Re Staging Connections Group Ltd [2015] FCA 1012 - Re TPG Telecom Ltd [2020] NSWSC 772 - Re Villa World Ltd (2019) 139 ACSR 550; [2019] NSWSC 1207 - Re Vimy Resources Ltd [2022] WASC 233 - Re Windlab Ltd [2020] NSWSC 571 Category: Principal judgment Parties: Kyckr Limited (Plaintiff…