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 1432

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 1432 Hearing dates: 10 September 2018 Decision date: 10 September 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: Direct that the Plaintiff is justified in distributing the third supplementary scheme booklet to unitholders and resuming a meeting of unitholders to be held on 17 September 2018. 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 distributing supplementary scheme booklet to unitholders – where responsible entity sought judicial advice that it would be justified in resuming meeting of unitholders – whether advice sought should be given. Legislation Cited: - Corporations Act 2001 (Cth) s 1322 - Trustee Act 1925 (NSW) s 63 Cases Cited: - In the matter of Re1 Limited (ABN 80 145 743 862) and Re2 Limited as responsible entities for Westfield Retail Trust 1 and Westfield Retail Trust 2 (No 3) [2014] NSWSC 762 - Nenna v Australian Securities and Investments Commission [2011] FCA 1193; (2011) 198 FCR 32; 284 ALR 386; 86 ACSR 204 - Re APN News & Media Ltd [2007] FCA 770 - Re Billabong International Limited (No 2) [2018] FCA 496 - Re DUET Management Co 1 Ltd [2013] NSWSC 817; (2013) 95 ACSR 34 - 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 1362 - Re Investa Listed Funds Management Limited as responsible entity for the Armstrong Jones Office Fund and the Prime Credit Property Trust [2018] NSWSC 1369 - Re Mosaic Oil NL [2010] FCA 985 - Re SFE Corporation Limited [2006] FCA 670 - Re Sirtex Medical Limited [2018] FCA 584 - Re Village Roadshow Ltd (No2) [2003] VSC 456 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 Investa Commercial Property Fund and ICPF Holdings Limited) M Oakes SC (Quartz Bidco Pty Ltd and Quartz Sub TC Pty Ltd)