Managed Investment Scheme

A managed investment scheme loaned reliance on a rural NSW properties and suffered severe losses when the security proved to be worth much less than the valuations. The responsible entity of the scheme sued the valuer claiming misleading conduct and...
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The lender sought judgment for $20m against the guarantors. The guarantors argued that the Trust Company which was suing them, had no standing to sue them as it was not the company they originally contracted with. The loan was originally made by City...
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Investors in an MFS Fund brought a class action against the responsible entity of the fund, certain directors and its auditors. Two previous attempts to amending the pleadings were refused as only the claim in negligence against the auditors was...
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Equititrust, a responsible entity operating a mortgage trust, approached the court seeking orders that the mortgage trust be wound up pursuant to s 601NC of the Corporations Act and that a temporary responsible entity be appointed. Before the...
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The borrower invested in managed investment schemes. He used money borrowed  from the bank. When the investments failed he sought to escape repayment of the loans arguing that the bank was liable for misrepresentations made by the managed investment...
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A unitholder notified the trustee and responsible entity of a unit trust that it wished to redeem its units. The Information Memorandum at the date the units were acquired provided for a ‘nil’ withdrawal fee and required 30 days’ notice of any fee...
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The responsible entity of the trust sought judicial advice that it would be justified in amending the issue price provisions of the constitution. The Law Section 601GC(1)(b) of the Corporations Act allows responsible entities to amend constitutions...
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This case concerned a property trust “MFS Premium Income Fund” and an IMF litigation funded class action by its unit holders against the auditor KPMG and directors of the former responsible entity of the fund known as MFS Investment Management who see...
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This case concerned a mortgage fund which suspended redemptions after the GFC and notified members of impairment losses due to a drop in the value of the mortgaged land. A member who had monies invested in the scheme requested the fund to make...
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A horticultural project operator lent money to enable investors to purchase interests in its project and then assigned the loans to the plaintiff. The plaintiff sued on the loans. The liquidator of horticultural project operator sent circulars to...
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A business which purchases units and shares from members of the public sought an order or injunction to compel LM Investments Management to provide a copy of their list of members and alleged contravention of section 173(3) of the Corporations Act. LM...
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