If shareholders vote against St . George's merger, it is likely St . George directors will abandon its proposed scheme of arrangement and make a straight takeover offer.
32.
Their strategy was to acquire shares and debentures in the original WHLR company and then seek to lift it out of receivership through a " scheme of arrangement ".
33.
OUTLOOK : Tan Chong had proposed a rationalisation and demerger of the operations of its Group activities involving schemes of arrangements under Section 176 of the Companies Act 1965.
34.
On implementation of the Senior Lenders schemes of arrangement, CNP s scrip in CRF was distributed to the Senior Lenders on a pro-rata basis to their senior debt holdings.
35.
In particular they rejected Lord Hoffman's suggestion that the availability of a scheme of arrangement under domestic law made it appropriate to recognise the Chapter 11 relief from abroad.
36.
In the absence of any specific corporate rehabilitation process, schemes of arrangement have been described as " the only tool currently available to facilitate the rescue of distressed companies ".
37.
National Australia Bank's legal adviser John Samaha said the proposed decoupling was a radical change from the original scheme of arrangement approved by the Queensland Supreme Court and Metway shareholders.
38.
Section 197A applies only if the old employer is insolvent, or if a scheme of arrangement or compromise with creditors is entered into in order to avoid winding-up or sequestration.
39.
According to UCM explanatory statement to shareholders, its rationalisation exercise involves, among others, a scheme of arrangement under section 176 of the Companies Act, 1965 between UCM and its shareholders.
40.
Renong was initially formed as a limited company, principally to implement a Scheme of Arrangement to transfer the domicile of The Renong Tin Dredging Company Plc from England to Malaysia.
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