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A new tool in distressed public company M&A

Summary

Australia, Capital Markets, Corporate Finance/M&A, Insolvency & Restructuring, Herbert Smith Freehills LLP, Share (finance), Public company
Vanquishing the veto vote in a scheme of arrangement

Summary

Australia, Insolvency & Restructuring, Herbert Smith Freehills LLP, Lehman Brothers
Schemes of arrangement – releases can be part of the bargain

Summary

Australia, Insolvency & Restructuring, Insurance, Litigation, Herbert Smith Freehills LLP, Class action, Investment management, Lehman Brothers
Significant developments in schemes

There have recently been a number of significant developments in relation to schemes of arrangement. These include:

  • the Federal Court refusing to make orders convening a meeting of CSR’s shareholders to vote on a demerger proposal by way of scheme, on public policy and commercial morality grounds relating to CSR’s potential asbestos liabilities
  • the Government’s corporate law advisory body recommending significant reforms to the scheme regime, and
  • developments regarding ‘hostile schemes’.

Each of these developments is discussed below.

Australia, Insolvency & Restructuring, Herbert Smith Freehills LLP, Shareholder, Renewable energy, Interest, Liability (financial accounting), Due diligence, Voting, Federal Court of Australia