NSW Caselaw
Reported Decision : 40 ACSR 116
New South Wales Supreme Court
CITATION : HOMEMAKER RETAIL MANAGEMENT [2001] NSWSC 1058 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 4789/01; 4790/01 HEARING DATE(S) : 19/11/01 JUDGMENT DATE : 19 November 2001
PARTIES : Homemaker Retail Management Ltd - Plaintiff JUDGMENT OF : Barrett J
COUNSEL : Mr M.B. Oakes SC - Plaintiff Mr L.B. Hastings, Solicitor - GPT Management Ltd SOLICITORS : Mallesons Stephen Jaques - Plaintiff Freehills - GPT Management Ltd CATCHWORDS : CORPORATIONS - arrangements and reconstructions - "stapled securities" - Part 5.1 scheme of arrangement between company and members - provision allowing company to vary scheme after approval by court - attempt to confer jurisdiction on ASIC in relation to variation procedure - provision allows any variation whatsoever which does not adversely affect rights of security holders - provision undesirable - provision omitted - EQUITY - trustees - judicial advice - advice may be given to responsible entity of managed investment scheme - advice concerning implementation of plan requiring approval by votes of unitholders is appropriately given after voting completed. Australian Securities and Investments Commission Act 2001 (Cth) Corporations Act 2001 (Cth) LEGISLATION CITED : Trustee Act 1925 Trustees Act 1962 (WA) Jurisdiction of Courts (Cross-Vesting) Act 1987 Co-operatives Act 1992 Smith v Permanent Trustee Australia Ltd (1992) 10 ACLC 906 Re Buka Minerals NL (1983) 8 ACLR 507 Re Leamon Consolidated (Vic) Pty Ltd (1985) 10 ACLR 263 Re R M Eastmond Pty Ltd (1972) 14 ACLR 801 Eagle Star Trustees Ltd v Heine Management Ltd (1990) 3 ACSR 232 Re Mirvac Ltd (1999) 32 ACSR 107 Re NRMA Ltd (2000) 33 ACSR 595 CASES CITED : Re NRMA Ltd (2000) 34 ACSR 261 MTM Funds Management Ltd v Cavalane Holdings Pty Ltd (2000) 35 ASCR 440 Re AGL Gas Networks Ltd (2001) 37 ACSR 441 Re Australian Co-operative Foods Ltd (2001) 38 ACSR 71 Minister for Health v Ancient Order of Foresters Friendly Society (No 2) (1985) 61 ALR 302 Re Price Mitchell Pty Ltd [1984] 2 NSWLR 273 Re Slade Constructions Pty Ltd [1970] SASR 561 Re Adelaide Air Conditioning and Domestic Engineers Ltd (1972) 6 SASR 603 Re Gresham Partners Management Ltd (WASC No CIV 1175 of 2001, 11 April 2001) DECISION : Refer paragraphs 26 and 27
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