In the matter of Telstra Corporation Limited [2022] NSWSC 1180

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Telstra Corporation Limited [2022] NSWSC 1180 Hearing dates: 23 August 2022 Date of orders: 23 August 2022 Decision date: 02 September 2022 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order made convening scheme meeting in respect of proposed scheme and approving the scheme booklet for distribution to shareholders. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – Application under s 411 of the Corporations Act 2001 (Cth) for orders convening meeting of members to consider and, if thought fit, to agree to proposed scheme of arrangement to implement corporate restructuring – Whether requirements to order scheme meeting are satisfied. Legislation Cited: - Corporations Act 2001 (Cth), ss 110C-110E, 249R, 411, 412, 413, 1319 - Corporations Amendment (Meetings and Documents) Act 2022 (Cth) - Securities Act of 1993 (US) Cases Cited: - Barrick (Australia Pacific Exploration) Pty Ltd v Barrick (PD) Australia Pty Ltd [2017] FCA 998 - FT Eastment & Sons Pty Ltd v Metal Roof Decking Supplies Pty Ltd (1977) 3 ACLR 69 - JP Morgan Operations Australia Limited v JP Morgan Australia Group Pty Limited [2018] FCA 1131 - Lendlease RL (Rowville) Pty Ltd v Lendlease Capital Service Pty Ltd [2018] FCA 1601 - Mercedes-Benz Financial Services Australia Pty Limited v Daimler Truck Financial Services Australia Pty Limited [2021] FCA 1279 - Re AGL Ltd [2022] NSWSC 576 - Re Anglo-Gaelic Investments Pty Ltd [2019] NSWSC 441 - Re Application of AGL Sydney Ltd (1994) 13 ACSR 597 - Re Atlassian Corporation Pty Ltd [2013] FCA 1451 - Re Australian Pharmaceutical Industries Ltd [2022] FCA 103 - Re BINGO Industries Ltd [2021] NSWSC 798 - Re Cytopia Ltd [2009] VSC 560 - Re Ellerston Global Investments Ltd [2020] NSWSC 879 - Re Foster's Group Ltd (No 2) [2011] VSC 547 - Re Hills Motorway Ltd (2002) 43 ACSR 101 - Re Link Administration Holdings Limited [2022] NSWSC 650 - Re Macquarie Private Capital A Ltd [2008] NSWSC 32 - Re Ovato Print Pty Ltd [2020] NSWSC 1882 - Re RXP Services Limited [2021] FCA 38 - Re Simavita Holdings Limited [2013] FCA 1274 - Re Tabcorp Holdings Ltd [2022] NSWSC 448 - Re Vault Intelligence [2020] FCA 1342 - Re Villa World Ltd [2019] NSWSC 1207 - Re Westfield Corporation Ltd (No 2) [2018] NSWSC 921 - Re Woolworths Group Ltd [2019] FCA 1810 - Royal Victorian Institute for the Blind Ltd v RBS.RVIB.VAF Ltd (2004) 206 ALR 581 - Warrnambool Cheese & Butter Factory Company Limited v Warrnambool Cheese & Butter Factory Company Holdings Limited [2017] FCA 302 Category: Principal judgment Parties: Telstra Corporation Limited (Plaintiff) Telstra Group Limited (First Defendant) Telstra Limited (Second Defendant) Representation: Counsel: Mr N Young QC/Mr B K Holmes (Plaintiff)