In the matter of Qantas Airways Limited [2024] NSWSC 1507

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Qantas Airways Limited [2024] NSWSC 1507 Hearing dates: 26 November 2024 Date of orders: 26 November 2024 Decision date: 26 November 2024 Jurisdiction: Equity - Corporations List Before: Nixon J Decision: (1) Pursuant to section 1322(4)(a) of the Corporations Act 2001 (Cth), the issue or transfer to the Second Plaintiff of shares (or units of shares) in the First Plaintiff in the period 31 July 1995 to 16 June 2024 are not void by reason of the operation of section 259C of the Corporations Act 2001 (Cth) (in respect to the period between 1 July 1998 and 16 June 2024), or section 185 of the Corporations Act 1989 (Cth) (in respect of the period between 31 July 1995 and 30 June 1998). Catchwords: CORPORATIONS – application for curative orders pursuant to s 1322(4)(a) of the Corporations Act 2001 (Cth) – where issue or transfer or shares is potentially void due to the operation of s 259C of the Corporations Act – where transactions sought to be validated span a period of almost 30 years and it is not possible to identify all of the relevant transactions or all of the counterparties involved – application granted Legislation Cited: Corporations Act 2001 (Cth), ss 259C, 1322 Cases Cited: Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth (2019) 268 CLR 524; [2019] HCA 20 Chief Commissioner of Stamp Duties for NSW v Buckle (1998) 192 CLR 226; [1998] HCA 4 In the matter of Macquarie Securities (Australia) Ltd [2014] FCA 455 Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360; [1979] HCA 61 Re Australia and New Zealand Banking Group Limited [2010] FCA 945 Re Commonwealth Bank of Australia [2005] FCA 1940 In the matter of Rand Mining Ltd [2019] VSC 529 Re Insignia Financial Limited [2022] NSWSC 488 Re Macquarie Group Ltd [2010] FCA 1507 Re MLC Limited [2006] FCA 1357 Re National Australia Bank Ltd [2020] NSWSC 1761 Re Westpac Banking Corporation [2004] FCA 1792 Category: Principal judgment Parties: Qantas Airways Limited (First Plaintiff) Qantas Superannuation Limited (Second Plaintiff) Representation: Counsel: I Ahmed w S Crosbie (Plaintiffs)