In compulsory acquisition of shares under s 664F of the Corporations Act 2001, the assessment date for determining fair value is the date of the compulsory acquisition notice. Events occurring after the assessment date must be approached with greater caution in share valuations than in damages or land acquisition cases, because share prices are affected by many volatile factors. Where expert evidence in a Commercial Cause relies on factual assumptions not independently proved, the court may accept the evidence under s 283 of the Supreme Court Act 1995 (Qld) or r 394 UCPR where the matters are not seriously in dispute and strict proof would cause unnecessary expense.
The full text is available to signed-in members, including the 4 later cases that cite this judgment.
1 of the 4 citing cases carry a classified treatment. How each court treated it is available to signed-in members.