Article
Schemes Of Arrangement: Sidestepping The Class Composition Fight
Justice Brereton’s recent decision in HMA International Ltd [2026] NSWSC 401 (HMA International) endorses two separate but interconnected schemes of arrangement for holders of the same class of ordinary shares who receive different consideration. The structure provides a practical workaround to the uncertainty of class composition and will interest private equity sponsors and others structuring transactions with rolling shareholders.
Corrs Chambers Westgarth