In the matter of Investa Listed Funds Management Limited (as responsible entity of Armstrong Jones Office Fund: ARSN 090242229) [2016] NSWSC 344

In the matter of Investa Listed Funds Management Limited (as responsible entity of Armstrong Jones Office Fund: ARSN 090242229) [2016] NSWSC 344

The Court orders, pursuant to Trustee Act 1925 s 63, that the plaintiffs would be justified in publishing and distributing an announcement substantially in the form proposed, as amended, because judicial advice is appropriate in circumstances where prior explanatory material has been approved by the Court and further supplementation or advocacy is sought.

Jurisdiction
Australia
Judgment Date
18 March 2016
Procedural Posture
Corporations/trust Scheme / Application for Judicial Advice and Consequential Orders
Outcome
Application granted; judicial advice given.
Legal Topics
['court Approval for Trustee Actions' 'distribution of Information to Unitholders' 'judicial Advice Under Trustee Act' 'disclosure Obligations' 'announcement to Asx']
['corporations Law' 'equity' 'trusts'] ['court Approval for Trustee Actions' 'distribution of Information to Unitholders' 'judicial Advice Under Trustee Act' 'disclosure Obligations' 'announcement to Asx']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 1 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporations/trust Scheme / Application for Judicial Advice and Consequential Orders

Legal Issues

  1. 1 ['Whether plaintiffs are justified in publishing and distributing an amended announcement to unitholders and ASX platform' 'Appropriateness of seeking judicial advice under Trustee Act 1925 s 63' 'Whether advocacy in explanatory documents is permissible' "Director/trustee's recommendations and supplementary explanatory material"]

Ratio Decidendi

The Court orders, pursuant to Trustee Act 1925 s 63, that the plaintiffs would be justified in publishing and distributing an announcement substantially in the form proposed, as amended, because judicial advice is appropriate in circumstances where prior explanatory material has been approved by the Court and further supplementation or advocacy is sought.

Court Disposition

Application granted; judicial advice given.

Orders

  • ['Pursuant to Trustee Act 1925 s 63, plaintiffs justified in publishing and distributing an amended announcement as specified.' 'Orders to be entered forthwith.']