The Court approved a scheme of arrangement between Peel Mining Limited and its shareholders for the acquisition of Peel shares by Aeris Resources Limited, being satisfied that the statutory majorities were achieved (99.99% of votes cast in favour), all conditions precedent were met, and the scheme was fair and reasonable in light of the Independent Expert's opinion and the absence of any superior proposal or opposition. The Court also granted an exemption from s 411(11) on the basis that the scheme did not effect any change to Peel's constitution.
The full text is available to signed-in members, including the 1 later case that cites this judgment.
1 of the 1 citing case carries a classified treatment. How each court treated it is available to signed-in members.