Novus Petroleum Ltd 02

Judgment date: 26/05/2004
Court: ATP
Judge: Nerolie Withnall (P), Jennifer Seabrook (DP) and Teresa Handicott
Citation: (2004) 50 ACSR 95; [2004] ATP 9; BC200403264;
Catchwords: Corporations;  Takeovers;  Competing bids;  Media reports outlining bidder's intentions concerning bid price;  

Corporations;  Takeovers;  Alleged statement that bidder would decide whether to increase bid by specified date;  Failure by bidder to make announcement by specified date;  

Corporations;  Takeovers;  Truth in takeovers policy;  Last and final statements;  

Corporations;  Takeovers;  Potential to mislead the market;  Inefficient and uninformed market;  

Corporations;  Takeovers;  Unacceptable circumstances;  Panel declining to commence proceedings;