The case confirms the settled approach to s 411(1) applications, including that performance risk is adequately addressed where scheme consideration is paid into trust before share transfer; no-talk provisions require a fiduciary carve-out but no-shop provisions generally do not; break fees are acceptable where not triggered by member rejection and representing a genuine pre-estimate of costs; and deemed warranty clauses are not onerous following Re APN News & Media Ltd. The mere choice of the Part 5.1 procedure over Chapter 6 does not enliven s 411(17).
The full text is available to signed-in members, including the 43 later cases that cite this judgment.
5 of the 43 citing cases carry a classified treatment. How each court treated it is available to signed-in members.