The court confirmed the established test for ordering scheme meetings: whether sensible business people might consider the arrangement beneficial. The court adopted [name withheld]'s approach in Re APN News & Media to deemed warranty clauses, preferring it over [name withheld]'s more restrictive approach in Mincom. The court raised unresolved questions about the proper operation of s 411(17) in takeover schemes, particularly the relevance of s 411(17)(a) where ASIC provides a statement of no objection under s 411(17)(b).
The full text is available to signed-in members, including the 29 later cases that cite this judgment.
4 of the 29 citing cases carry a classified treatment. How each court treated it is available to signed-in members.