Westfield Retail Trust will appear before the New South Wales Supreme Court this afternoon as the fallout from the postponed vote on its $70 billion demerger proposal continues.
Court listings show that WRT is scheduled to appear before the Supreme Court at 2pm (AEST).
The group is seeking court approval to send a new booklet to its shareholders, which is likely to say that the current proposal will not be improved and there will be no other opportunity for Westfield Retail to merger with the proposed new entity, Scentre Group, The Australian Financial Review reports.
A shareholder vote on the demerger was delayed last week after it looked unlikely to pass
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Supreme Court set to consider WRT shareholder information about demerger: report.
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