In the matter of Investa Listed Funds Management Limited (as responsible entity of Armstrong Jones Office Fund: ARSN 090242229) [2016] NSWSC 341

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Investa Listed Funds Management Limited (as responsible entity of Armstrong Jones Office Fund: ARSN 090242229) [2016] NSWSC 341 Hearing dates: Tuesday, 8 March 2016 Date of orders: 08 March 2016 Decision date: 08 March 2016 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Plaintiffs justified in convening concurrent extraordinary general meetings of the security holders of AJO Fund and PCP Trust to consider and approve resolution in relation to proposal. Plaintiffs justified in distributing explanatory memorandum. First plaintiff and second plaintiff justified in proceeding on basis that proposed amendments to AJO and PCP's constitution respectively are within powers of alteration in Corporations Act, s 601GC. Catchwords: CORPORATIONS – managed investments – schemes of arrangement – judicial advice sought pursuant to (NSW) Trustee Act 1925, s 66 for matters related to proposed trust scheme – whether distribution of explanatory memorandum would be justified – whether proposed amendments to constitutions of AJO Fund and PCP Trust within power of amendment in (CTH) Corporations Act, s 601GC Legislation Cited: (NSW) Trustee Act 1925, s 63, s 66 (CTH) Corporations Act, 2001, s 601(GC) Category: Principal judgment Parties: Investa Listed Funds Managements Limited (as responsible entity of Armstrong Jones Office Fund: ARSN 090242229)(first plaintiff) Investa Listed Funds Managements Limited (as responsible entity of Prime Credit Property Trust ARSN 089849196)(second plaintiff) Representation: Counsel: P J Brereton SC w DFC Thomas (plaintiffs) J C Sheahan QC (interested party)