Re Milne and Choyce Limited - [1953] NZLR 724

Company — Scheme of Arrangement — Increase of Capital — Compromise with Debenture-holders — Dispute between Shareholders and Minority of Debenture-holders — Duty of Court in Considering Application for its Sanction to such a Scheme — Tests to be applied — Onus on Objectors to establish Unfairness of Scheme to One or More of Classes concerned — Opinion of Persons connected with Company Safer Indication of Fairness of Proposed Scheme than Sharemarket's Reaction to it — Inaccuracy in Directors' Circular setting out Proposals — Majority of Debenture-holders not misled thereby — Order as to Costs — "Scheme" — "Perpetual debenture" — Companies Act, 1933, s 159.