Tawana Resources Nl, in the matter of Tawana Resources Nl (No 4)

Tawana Resources NL applied to the Federal Court for an amendment to a court-approved scheme of arrangement, which had been designed to facilitate the sale of shares. The trading of shares was halted, preventing the sale from proceeding as anticipated. The court was tasked with deciding whether to amend the scheme to accommodate the trading halt and whether to extend the deadline for compliance with the scheme.

The court considered the application under the slip rule and other powers available to the court. It noted that the scheme had already been approved and that the amendment sought would only address the issue of the trading halt. The court found that the amendment was necessary to ensure the effectiveness of the scheme and that extending the compliance deadline was appropriate given the circumstances.

The court granted the application, amending the scheme to allow for trading on the ASX and extending the compliance deadline. The court also directed that the plaintiff lodge a copy of the orders with ASIC and make an announcement to the ASX. Liberty to apply was reserved to certain parties.

The court's final orders included amending the scheme to allow for trading on the ASX, extending the compliance deadline, and requiring the plaintiff to lodge a copy of the orders with ASIC and make an ASX announcement. Liberty to apply was reserved to certain parties.