Practitioners advising companies on enforcement of pre-emptive rights provisions should be aware that company-funded litigation to compel a shareholder to offer shares to other shareholders may constitute financial assistance to acquire shares under s 260A, and that the company bears the onus of displacing the presumption of contravention under s 1324(1B).
The full text is available to signed-in members, including the 14 later cases that cite this judgment.
4 of the 14 citing cases carry a classified treatment. How each court treated it is available to signed-in members.