Perpetual Custodians Ltd (as custodian for Tamoran Pty Ltd as trustee for Michael Crivelli) v IOOF Investment Management Ltd; Murray v Perennial Investment Partners Ltd [2012] NSWSC 1318

Supreme Court New South Wales

Medium Neutral Citation: Perpetual Custodians Ltd (as custodian for Tamoran Pty Ltd as trustee for Michael Crivelli) v IOOF Investment Management Ltd; Murray v Perennial Investment Partners Ltd [2012] NSWSC 1318 Hearing dates: 2 and 3 October 2012 Decision date: 30 October 2012 Jurisdiction: Equity Division - Commercial List Before: Stevenson J Decision: Change in Control did not occur Catchwords: CONTRACTS - construction Legislation Cited: Corporations Act 2001 (Cth) Corporations Regulations (Cth) Trade Practices Act 1974 (Cth) Cases Cited: Australian Competition and Consumer Commission (ACCC) v SIP Australia Pty Ltd [2002] FCA 824; (2002) ATPR 41-877 Adsteam Building Industries Pty Ltd v Queensland Cement & Lime Co Ltd [1985] 1 Qd R 127; (1984) 14 ACLR 456 Austral Coal Ltd (No. 2) [2005] ATP 13; (2005) 55 ACSR 60 Bank of Western Australia v Ocean Trawlers Pty Ltd (1995) 16 ACSR 501 Bateman v Newhaven Park Stud Ltd [2004] NSWSC 566; (2004) 49 ACSR 597 Bentley Capital Ltd 01R [2011] ATP 13 Brockman Resources Ltd [2011] ATP 3 Cordon Investments Pty Ltd v Lesdor Properties Pty Ltd [2012] NSWCA 184 Fardell v Coates Hire Operations Pty Ltd [2010] NSWSC 346; (2010) 201 IR 64 In the matter of Hostworks Group Ltd [2008] FCA 64; (2008) 26 ACLC 137 J-Corp Pty Ltd v Australian Builders Labourers Federated Union of Workers (1992) 44 IR 264 Mount Gibson Iron Ltd [2008] ATP 4 National Foods [2005] ATP 8; (2005) 54 ACSR 80 Newton v Federal Commissioner of Taxation [1958] AC 450 Tillmanns Butcheries Pty Ltd v Australasian Meat Industry Employees' Union (1979) 42 FLR 331 Viento Group Ltd [2011] ATP 1 Winepros Ltd [2002] ATP 18; (2002) 43 ACSR 566 Texts Cited: Austin and Ramsay, Ford's Principles of Corporations Law, vol 2 Renard and Santamaria, Takeovers and Reconstructions in Australia Category: Principal judgment Parties: 2012/68986: Perpetual Custodians Limited (ACN 000 313 431) (as custodian for Tamoran Pty Limited as trustee for Michael Crivelli) (first plaintiff) Australian Executor Trustees Limited (ACN 007 869 794) as custodian for Anthony Patterson as trustee for the Patterson Family Trust (second plaintiff) Australian Executor Trustees Limited (ACN 007 869 794) as custodian for Nandaroo Pty Limited (third plaintiff) IOOF Investment Management Limited (defendant) 2012/113927: John Murray (first plaintiff) Anthony Patterson (second plaintiff) Nandaroo Pty Limited (ACN 077 890 843) (third plaintiff) Anthony Patterson as trustee for the Patterson Family Trust (fourth plaintiff) Perennial Investment Partners Limited (ACN 087 901 620) (first defendant) Paul Durham (second defendant and first cross claimant) Stephen Bruce (third defendant) PSD Nominees Pty Ltd (ACN 103 776 950) as trustee for the Durham Family Trust (fourth defendant and second cross claimant) Billet Place Pty Limited (ACN 107 426 317) as trustee for the Stephen Bruce Family Trust (fifth defendant) Perennial Value Management Limited (sixth defendant) Representation: Counsel: I M Jackman SC with R Scruby and B Le Plastrier (plaintiffs) P J Jopling QC with P G Liondas and L T Livingston (defendants) R J Weber SC (first and second cross claimants, 2012/113927) Solicitors: 2012/68986: Atanaskovic Hartnell (plaintiffs) King & Wood Mallesons (defendants) 2012/113927: Atanaskovic Hartnell (plaintiffs) King & Wood Mallesons (first defendant) Holman Webb (second, third, fourth and fifth defendants and first and second cross claimants) Henry Davis York (sixth defendant) File Number(s): SC 2012/68986; SC 2012/113927 Publication restriction: Nil