Ch 6 principles, including the equality principle in s 602(c), do not directly apply to Part 5.1 schemes of arrangement, and the extent to which they may be relevant by analogy depends on the particular circumstances of the case. Neither Ch 5 nor Ch 6 requires scheme consideration to be valued solely by reference to market price; independent expert valuations using asset-based, earnings-based and other methodologies are permissible. Where shareholders will receive full disclosure of all relevant matters and independent expert opinion, the court may be satisfied that their interests are adequately protected by allowing them to vote on the scheme.
The full text is available to signed-in members, including the 24 later cases that cite this judgment.
3 of the 24 citing cases carry a classified treatment. How each court treated it is available to signed-in members.