CSR Limited, in the matter of CSR Limited [2010] FCAFC 34 (23 April 2010)
I refer to my earlier posting with respect to the demerger proposal of CSR and the concerns about payment of their asbestos liabilities.
The Full Court of the Federal Court has allowed CSR’s appeal to demerge.
KEANE CJ, FINKELSTEIN AND JACOBSON JJ:
56.
As to the argument [...]

SEVEN Network’s $3 billion merger with Kerry Stokes’s privately owned industrial equipment business has been approved by the Federal Court.
Justice Peter Jacobson gave the scheme of arrangements for the union the green light today.
“There’s nothing to suggest that the unrelated shareholders or the TELYS3 holders voted otherwise than in good faith,” Justice Jacobson said in [...]

Lehman Brothers Holdings Inc v City of Swan & Ors; Lehman Brothers Asia Holdings Limited (In Liquidation) v City of Swan & Ors [2010] HCA 11 (30 March 2010)
FRENCH CJ, GUMMOW, HAYNE AND KIEFEL JJ:
On 30 March 2010, the High Court dismissed the appeal of Lehman Brothers Asia Holdings Limited (Liquidation).
The reasoning is now available.
The central issue [...]

Further to my earlier posting the appeal was heard by the Full Federal Court on 29 and 30 March 2010, before Keane CJ, Finkelstein and Jacobson JJ.
The Court reserved its judgment.
Brisbane Barrister – David Cormack

I refer to my earlier posting regarding the refusal of the Federal Court to convene a shareholders meeting re: CSR’s proposal to demerge, with particular consequences for its asbestos liabilities. Leave to appeal to the Full Federal Court has been granted and will be heard on 29 and 30 March 2010.
Brisbane Barrister – David Cormack

JANUARY is traditionally a slow news month. Perhaps this is why a comparatively dull topic such as corporate law reform generated much in the way of press on and around 20 January 2010. Even more so when one considers that perhaps the relevant minister, Chris Bowen, may have been able to have achieved what many [...]

CSR Limited, in the matter of CSR Limited [2010] FCA 33
CSR applied to Demerger into Sucrogen and CSR, which would result in the capital of the company being reduced and available to creditors, in particular, for liability of asbestos claims.
The application was opposed by an alliance of unlikely bedfellows including; James Hardie Industries NV and James Hardie 117 [...]

COMMENTATORS have taken the federal government’s move to overturn the effect of the High Court’s decision in Sons of Gwalia v Margaretic as a chance to slate the court’s decision.
Read more in theNewLawyer and reproduced with permission.

The Federal Government’s legislation on executive pay has passed through both houses of Parliament and is expected to take effect next week. These changes were announced by the Government in March 2009 in response to shareholder backlash against termination benefits paid to senior executives, particularly during the GFC when share prices were falling.
The intention of [...]

The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, today (06/11/2009) welcomed the agreement reached at the Ministerial Council for Corporations (MINCO) meeting in Sydney on the next step in reform of directors’ liability provisions.
 
Read more in the media briefing.
 
Brisbane Barrister – David Cormack