Mirvac & Mirvac Funds [1999] NSWSC 457

Mirvac & Mirvac Funds [1999] NSWSC 457

Orders for convening scheme meetings and provision of judicial advice are justified as the proposal fits within established legal practice for corporate reconstruction, disclosure and notice requirements are satisfied, and powers to amend trust constitutions are adequate, with jurisdiction established for judicial advice.

Parties
Applicant: Mirvac Limited; Applicant: Mirvac Funds Limited; Applicant: Capital Property Management Limited
Jurisdiction
Australia
Judgment Date
04 May 1999
Procedural Posture
Scheme of Arrangement and Judicial Advice Applications / Orders for Convening Meetings and Provision of Judicial Advice
Outcome
Orders made for convening scheme meetings and provision of judicial advice to the extent indicated.
Legal Topics
Scheme of Arrangement, Amendment of Constitution, Stapled Securities, Judicial Advice, Notice of Meetings
Corporations Law Equity Trusts Scheme of Arrangement Amendment of Constitution Stapled Securities Judicial Advice Notice of Meetings

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Parties

Mirvac Limited

Applicant

Mirvac Funds Limited

Applicant

Capital Property Management Limited

Applicant

Procedural Posture

Scheme of Arrangement and Judicial Advice Applications / Orders for Convening Meetings and Provision of Judicial Advice

Legal Issues

  1. 1 Whether orders should be made for convening scheme meetings for Mirvac Limited and Mirvac Funds Limited; Whether responsible entities are justified in convening meetings and amending trust constitutions; Whether notice and explanatory statement requirements are met; Jurisdiction for judicial advice under Trustee Act 1925 (NSW); Interpretation of statutory rules governing meeting notices

Ratio Decidendi

Orders for convening scheme meetings and provision of judicial advice are justified as the proposal fits within established legal practice for corporate reconstruction, disclosure and notice requirements are satisfied, and powers to amend trust constitutions are adequate, with jurisdiction established for judicial advice.

Court Disposition

Orders made for convening scheme meetings and provision of judicial advice to the extent indicated.

Orders

  • Orders for convening shareholders' and unitholders' meetings for consideration of schemes and amendments.
  • Provision of judicial advice to responsible entities regarding convening meetings and amending constitutions.