In the matter of Spark Infrastructure RE Limited [2021] NSWSC 1564

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Spark Infrastructure RE Limited [2021] NSWSC 1564 Hearing dates: 26 November 2021 Date of orders: 26 November 2021 Decision date: 02 December 2021 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made approving creditors' schemes of arrangement. Direction given that plaintiff would be justified in giving effect to and implementing trust scheme proposal and giving effect to consequential constitutional amendments. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – Application under s 411 of the Corporations Act 2001 (Cth) for orders approving creditors' scheme of arrangement – Whether creditors' scheme of arrangement should be approved. 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 – Whether scheme is fair and reasonable so that an intelligent and honest person who was a unitholder, properly informed and acting alone, might approve it. Legislation Cited: - Corporations Act 2001 (Cth), s 411 - Trustee Act 1925 (NSW), s 63 Cases Cited: - Australian Securities & Investments Commission v Mariner Corporation Limited (2015) 106 ACSR 343; [2015] FCA 589 - AWE Limited [2018] ATP 4 - Keybridge Capital Limited [2020] ATP 9, [2020] ATP 6 - Re Allied Gold Ltd (No 2) [2011] QSC 194 - Re Aveo Group Ltd [2019] NSWSC 1679 - Re BIS Finance Pty Ltd [2018] NSWSC 3 - Re Boart Longyear Ltd (No 2) (2017) 323 FLR 241; (2014) 122 ACSR 437; [2017] NSWSC 1105 - Re Bolnisi Gold NL [2007] FCA 1668 - Re Central Pacific Minerals NL [2002] FCA 239 - Re Coca-Cola Amatil Ltd [2021] NSWSC 489 - Re David Jones Ltd (No 3) (2014) 32 ACLC 14–037 [2014] FCA 753 - Re Equinox Resources Ltd (2004) 49 ACSR 692; [2004] WASC 143 - Re HIH Casualty and General Insurance Ltd (2005) 215 ALR 562; (2005) 53 ACSR 12; [2005] NSWSC 240 - Re Isentia Group Ltd [2021] NSWSC 1069 - Re Ovato Print Pty Ltd [2020] NSWSC 1882 - Re Prime Infrastructure Holdings Ltd [2010] NSWSC 1337 - Re Redcape Property Fund Ltd and Trust Company (RE Services) Ltd (as the responsible entity for the Redcape Property Trust) [2012] NSWSC 486 - Re Spark Infrastructure RE Ltd [2021] NSWSC 1385 - Re Walsh & Company Investments Ltd as responsible entity of Fort Street Real Estate Capital Fund I, Fort Street Real Estate Capital Fund II, Fort Street Real Estate Capital Fund III and Fort Street Real Estate Capital Fund IV [2020] NSWSC 1746 - The Agency Group Australia Limited 01 & 02 [2021] ATP 2 Category: Principal judgment Parties: Spark Infrastructure RE Limited as responsible entity of Spark Infrastructure Trust (Plaintiff) Representation: Counsel: I M Jackman SC (Plaintiff) D Thomas SC (Acquirer)