Gantry Acquisition Corp v Parker and Parsley Petroleum Australia Pty Ltd

(1994) 123 ALR 29

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Gantry Acquisition Corp
vParker and Parsley Petroleum Australia Pty Ltd

Court:

Judges: Sheppard J
Burchett J
Beazley J

Subject References:
Corporations
take over offer
PtA statement issued by offeror said to be deficient because of failure to set out particulars of offeror's intentions regarding the continuation of the business of the target company, major changes to be made to its business and the future employment of the present employees of the target company
whether breaches established
discussion of proper approach to construction of applicable provisions of Corporations Law

Legislative References:
Trade Practices Act 1974 - s 52

Case References:
A v B - (1969) NZLR 534
Associated Dairies Ltd v Central Western Dairy Ltd - (1993) 11 ACLC 827
Bond Corp Holdings Ltd v Sulan - (1990) 3 WAR 49
House v The King - (1936) 55 CLR 499
Neil v Nott - (1994) 121 ALR 148
Re Green's Will Trusts - (1985) 3 All ER 455
Re Karounos Ex parte Official Trustee in Bankruptcy - (1989) 89 ALR 580
Re Paddle River Construction Ltd - (1961) 35 WWR 605
Sagasco Amadeus Pty Ltd v Magellan Petroleum Australia Ltd - (1993) 177 CLR 508
Samic Ltd v Metals Exploration Ltd - (1993) 60 SASR 300

Hearing date: 4 July 1994
Judgment date: 20 July 1994

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Order

1. The appeal be dismissed.

2. The appellant pay to the respondent its costs of the appeal.

Counsel for the appellant: Mr P G Hely, QC and Mr A J Meagher
Solicitors for the appellant: Clayton Utz
Counsel for the respondent: Mr S D Rares, SC and Mrs A C Bennett
Solicitors for the respondent: Mallesons Stephen Jacques