In the matter of Investa Listed Funds Management Limited as responsible entity for the Armstrong Jones Office Fund and the Prime Credit Property Trust [2018] NSWSC 1391

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Investa Listed Funds Management Limited as responsible entity for the Armstrong Jones Office Fund and the Prime Credit Property Trust [2018] NSWSC 1391 Hearing dates: 5 September 2018 Decision date: 05 September 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: Direct that the Plaintiff is justified in adjourning a meeting of unitholders to a date to be determined. Catchwords: CORPORATIONS – managed investments – judicial advice sought under s 63 of the Trustee Act 1925 (NSW) by responsible entity – where responsible entity sought judicial advice that it would be justified in adjourning meeting of unitholders – whether advice sought should be given. Legislation Cited: - Corporations Act 2001 (Cth) s 1319 - Trustee Act 1925 (NSW) s 63 Cases Cited: - Re Envestra Ltd (No 2) [2014] FCA 483 - In the matter of Re1 Limited and Re2 Limited as responsible entities for Westfield Retail Trust 1 and Westfield Retail Trust 2 (No 3) [2014] NSWSC 762 - Re Asciano Ltd (No 2) [2015] NSWSC 1651 - Re Investa Funds Management Ltd [2016] NSWSC 369 - Re Investa Listed Funds Management Limited as responsible entity for the Armstrong Jones Office Fund and the Prime Credit Property Trust [2018] NSWSC 1369 - St George Bank Ltd v The Rangers Club of NSW Inc (1995) 18 ACSR 370 - Young v Cotter [1996] NSWCA 573 Category: Procedural and other rulings Parties: Investa Listed Funds Management Limited as responsible entity for the Armstrong Jones Office Fund and the Prime Credit Property Trust (Plaintiff) Representation: Counsel: N M Bender (Plaintiff) J Stoljar SC (Investa Wholesale Funds Management Limited in its capacity as responsible entity of the Investor Commercial Property Fund and ICPF Holdings Limited) M Oakes SC (Quartz Bidco Pty Ltd and Quartz Sub TC Pty Ltd)