Magellan Asset Management Limited as responsible entity of Magellan Global Fund; Magellan Asset Management Limited as responsible entity of the Magellan Global Equities Fund; Magellan Asset Management Limited as responsible entity of the Magellan Global Trust [2020] NSWSC 1789

Supreme Court New South Wales

Medium Neutral Citation: Magellan Asset Management Limited as responsible entity of Magellan Global Fund; Magellan Asset Management Limited as responsible entity of the Magellan Global Equities Fund; Magellan Asset Management Limited as responsible entity of the Magellan Global Trust [2020] NSWSC 1789 Hearing dates: 26 November 2020 Date of orders: 26 November 2020 Decision date: 11 December 2020 Jurisdiction: Equity - Corporations List Before: Black J Decision: Plaintiffs would be justified in giving effect to and implementing proposals and giving effect to consequential constitutional amendments. Catchwords: CORPORATIONS – Arrangements and reconstructions – Application under s 63 of the Trustee Act 1925 (NSW) for judicial advice with respect to the implementation of trust scheme Legislation Cited: - Corporations Act 2001 (Cth), s 601GC - Trustee Act 1925 (NSW), s 63 Cases Cited: - Re Commonwealth Managed Investments Ltd [2014] NSWSC 244 - Re Cromwell Property Securities Ltd [2006] NSWSC 1449 - Re Homemaker Retail Management Ltd (2001) 40 ACSR 116 - Re Macquarie Goodman Funds Management Ltd (2004) 52 ACSR 194 - Re Mirvac Limited (1999) 32 ACSR 107 - Re Magellan Asset Management Limited as responsible entity of Magellan Global Fund [2020] NSWSC 1535 Category: Principal judgment Parties: Proceedings 2020/262387 Magellan Asset Management Limited as responsible entity of Magellan Global Fund (Plaintiff) Magellan Asset Management Limited as responsible entity of Magellan Global Equities Fund (First Defendant) Magellan Asset Management Limited as responsible entity of Magellan Global Trust (Second Defendant)