Key Points:
Australia, Banking, Corporate Finance/M&A, Insolvency & Restructuring, King & Wood Mallesons, Foreign direct investment, Foreign Investment Review Board
On the 2 August 2021 Treasury released a consultation paper titled ‘Helping Companies Restructure by Improving Schemes of Arrangement. The consultation is aimed at reforming Australia’s scheme of arrangement procedure.
On 5 October 2011 Justice Barrett of the Supreme Court of NSW handed down a decision in Centro Retail Limited and Centro MCS Manager Limited in its capacity as Responsible Entity of the Centro Retail Trust [2011] NSWSC 1175 (“Centro”) where he found that the responsible entity of Centro Retail Trust would be justified in modifying the constitution of the trust without unitholder approval to a insert a provision permitting the issue of units at a price different to that provided for by the pre-existing provisions.
Australia, New South Wales, Insolvency & Restructuring, Litigation, King & Wood Mallesons, Retail, Security (finance), Investment funds, Market value, Net asset value, Unilateralism, Australian Securities Exchange, ING Group, Australia and New Zealand Banking Group, Constitutional amendment, Corporations Act 2001 (Australia), Constitution, Federal Court of Australia, New South Wales Supreme Court