In the matter of Telstra Corporation Limited (No 2) [2022] NSWSC 1460

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Telstra Corporation Limited (No 2) [2022] NSWSC 1460 Hearing dates: 19 October 2022 Date of orders: 19 October 2022 Decision date: 26 October 2022 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made approving a scheme of arrangement. Catchwords: CORPORATIONS – Arrangements and reconstructions – Schemes of arrangement or compromise – Application under s 411 of the Corporations Act 2001 (Cth) for orders approving scheme of arrangement – Where formal requirements satisfied – Whether scheme of arrangement should be approved – Transfer of assets within internal reconstruction of corporate group. Legislation Cited: - Corporations Act 2001 (Cth), ss 411, 413 - Securities Act of 1933 (US) Cases Cited: - Australian Competition & Consumer Commission v Telstra Corporation Ltd [2021] FCA 502 - Re Afterpay Ltd [2021] NSWSC 1709 - Re Amcor Ltd (No 2) [2019] FCA 842 - Re Ardent Leisure Ltd [2018] NSWSC 1990 - Re Atlantic Gold NL (No 2) [2014] FCA 869 - Re AusNet Services Ltd (No 2) [2022] NSWSC 79 - Re Avita Medical Ltd (No 3) [2020] FCA 896 - Re Beadell Resources Ltd (No 2) [2019] WASC 53 - Re BINGO Industries Ltd [2021] NSWSC 911 - Re Capilano Honey Ltd (No 2) (2018) 132 ACSR 332; [2018] FCA 1925 - Re Centro Properties Ltd (2011) 86 ACSR 584; [2011] NSWSC 1465 - Re Coca-Cola Amatil Ltd [2021] NSWSC 489 - Re Crown Resorts Ltd (No 2) [2022] FCA 710 - Re CSR Ltd (2010) 183 FCR 358; 77 ACSR 592; [2010] FCAFC 34 - Re Ellerston Global Investments Ltd 1108 - Re Isentia Group Ltd [2021] NSWSC 1069 - Re Ovato Print Pty Ltd [2020] NSWSC 1882 - Re ResApp Health Ltd [2022] NSWSC 1353 - Re Seven Network Ltd (No 3) (2010) 267 ALR 583 - Re Tabcorp Holdings Ltd (No 2) [2022] NSWSC 725 - Re Tatts Group Ltd (No 2) [2017] VSC 770 - Re Telstra Corporation Ltd [2022] NSWSC 1180 - Re TriAusMin Ltd (No 2) [2014] FCA 833 - Re Vocus Group Ltd [2021] NSWSC 843 - Re Westfield Corporation Ltd (No 2) [2018] NSWSC 921 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)