Latest Federal Court News

Carawine Resources advances exploration planning at Paterson and other projects while facing a pivotal court decision on shareholder compulsory acquisition and securing a $1.7 million loan to sustain operations.

Centex Limited and Agriflex Pty Ltd, currently under voluntary administration, have received a Deed of Company Arrangement proposal from PRL Global Limited involving an $8.2 million contribution and a share transfer. Administrators recommend creditors approve the DOCA for better returns and operational continuity.

Clean Seas Seafood Limited shares have been suspended from the ASX following Federal Court approval of its acquisition by Yumbah Aquaculture Ltd, marking a significant consolidation in Australia’s seafood sector.

Clean Seas Seafood’s takeover by Yumbah Aquaculture has been formally approved and registered, marking a key milestone in the seafood sector consolidation. Share trading is suspended as shareholders prepare for compensation.

The Federal Court has approved Yumbah Aquaculture’s acquisition of Clean Seas Seafood, setting the stage for a significant consolidation in Australia’s seafood farming sector. Shareholders face a choice between cash or shares as the scheme moves toward implementation.

Platinum Asia Investments Limited (PAI) has announced a proposed restructure via a scheme of arrangement to exchange its shares for units in the Platinum Asia Fund Complex ETF (PAXX), aiming to resolve a persistent discount to net tangible asset value (NTA). The scheme, supported by independent directors and deemed fair by an expert, includes a potential special dividend and awaits shareholder and court approval.

London City Investments reports a strong 14.8% increase in net worth for 2025, driven by gains in its investment portfolio and operating profits, outperforming the ASX All Ordinaries Index. The company also realized a significant capital gain from trimming its Fiducian Group shareholding and reinstated its Dividend Reinvestment Plan.

IGO Limited has announced its withdrawal from the Fraser Range Joint Venture, leaving Carawine Resources with a critical decision on the remaining tenement. Meanwhile, Carawine updates on a key legal battle over a compulsory acquisition by major shareholder QGold.

Clean Seas Seafood shareholders have voted to approve Yumbah Aquaculture’s acquisition scheme, setting the stage for delisting and a significant ownership change. The deal offers shareholders a cash option or a scrip alternative, with expert backing and board endorsement.

Platinum Capital Limited has secured Federal Court approval to convene a shareholder meeting for its proposed restructure, exchanging shares for units in the Platinum International Fund Complex ETF. The Scheme Booklet will be dispatched mid-July ahead of a hybrid meeting in August.

Site Group International faces a $10 million Federal Court penalty for unconscionable conduct, while its subsidiary Site Institute Pty Ltd moves forward under a Deed of Company Arrangement.

AMP Limited is set to defend itself against a new class action alleging inflated life insurance premiums and a separate dispute over a major property sale, signaling potential challenges ahead for the financial services giant.