oip shareholders beware, page-13

out of curiousity I had a quick search on that Austlii website. found this.
http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/cth/FCA/2006/1098.html?query=scheme%20of%20arrangement%20court%20approval

whilst this is a case where the Court did approve the Scheme, it shows some of the issues it looks at.
(a) number and composition of voting
(b)common directorships
(c) notices and proper convening of meetings etc
(d) "Clause 12: There is no suggestion that Rocksoft is not pursuing the scheme in good faith and for a legitimate purpose, namely the advancement of the interests of its members and option holders. Nor is there any suggestion that the members and option holders have done other than act in good faith or in pursuit of some legitimate purpose in supporting the scheme."
(e) "Clause 13. Clearly the scheme results from an arms length transaction negotiated in ordinary commercial circumstances......."

The Clauses 12 & 13 may be worth attention.

cheers again