The judgment provides a comprehensive statement of the principles governing the Court's discretion at each of the three stages of a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth), including the requirements of public policy, commercial morality, absence of oppression, and reasonableness. The Court must be satisfied that the scheme is at least so fair and reasonable that an intelligent and honest person, who is a member of the class of security holders, acting alone in respect of his or her interests, might approve it.
The full text is available to signed-in members, including the 187 later cases that cite this judgment.
20 of the 187 citing cases carry a classified treatment. How each court treated it is available to signed-in members.