In the matter of Magellan Asset Management Limited as responsible entity of the Magellan Global Fund [2024] NSWSC 858

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Magellan Asset Management Limited as responsible entity of the Magellan Global Fund [2024] NSWSC 858 Hearing dates: 10 July 2024 Date of orders: 10 July 2024 Decision date: 15 July 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Plaintiff would be justified in giving effect to and implementing trust scheme 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 scheme of arrangement – Where formal requirements satisfied – Whether 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. Legislation Cited: - Corporations Act 2001 (Cth), s 411(4)(b) - 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 Irongate Funds Management Ltd as responsible entity for Irongate Property Fund I and Irongate Property Fund II (No 2) [2022] NSWSC 959 - Re Macquarie Goodman Funds Management Ltd (2004) 52 ACSR 194 - Re Magellan Asset Management Ltd as responsible entity of the Magellan Global Fund [2024] NSWSC 603 - Re Mirvac Ltd (1999) 32 ACSR 107 - Re Trust Company (RE Services) Ltd as responsible entity of the VitalHarvest Freehold Trust (No 4) [2021] NSWSC 838 Category: Principal judgment Parties: Magellan Asset Management Limited (Plaintiff) Representation: Counsel: J Williams SC/H Atkin (Plaintiff)