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[2010] FCA 163
Federal Court of Australia
2010-02-26
Gordon J
Original judgment source is linked above.
THE COURT NOTES THAT: A. The Applicants and the Respondent have agreed to settle the claims made on the terms set out in the Deed of Settlement, a copy of which is Annexure 'A' to these Orders (the Deed of Settlement), save that the Applicants and the Respondent have further agreed that they will seek an order of this Court that the Settlement Scheme, comprising Schedule 1 to the Deed of Settlement, be substituted by an amended Settlement Scheme which comprises 'Annexure B' to this Order. THE COURT ORDERS THAT:
Note:Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. The text of entered orders can be located using Federal Law Search on the Court's website.
John Stanley Francis Casey and Paula Grace Casey (the "Applicants")
Australian Securities and Investments Commission ("ASIC")
Contents 1..................................................................................................................................... Settlement 2.............................................................................................. Approval Order refused or set aside 3....................................................................................................................................... Releases 4.................................................................................................................................... Plea in bar 5............................................................................................................... Obligations of the Parties 6............................................................................................................................. Court approval 7........................................................................................................................ Settlement Scheme 8............................................................................................................ ASIC to retain any surplus 9.............................................................................................................................. No admissions 10................................................................................................ No further step in the Proceeding 11.................................................................................................................. No orders as to costs 12........................................................................................................... Binding effect of this Deed 13.............................................................................................................. Execution of documents 14....................................................................................................................................... Notices 14.1................................................................................... How and where Notices may be sent 14.2............................................................................................................. Email not to be used 14.3..................................................... When Notices are taken to have been given and received 15.................................................................................................. Entire agreement and legal effect 16....................................................................................................................................... General 16.1.............................................................................................. Governing law and jurisdiction 16.2.............................................................................................................................. Variation 16.3........................................................................................................................ Counterparts 17....................................................................................................... Definitions and interpretation 17.1........................................................................................................ Agreement components 17.2............................................................................................................................ Definitions 17.3....................................................................................................................... Interpretation 17.4................................................................................... Interpretation of inclusive expressions 17.5....................................................................................................................... Business Day Schedule 1 - Settlement Scheme Schedule 2 - First Orders Schedule 3 - Approval Order Schedule 4 - Notice details Schedule 5 - List of potential Group Members Signing page
Deed of settlement Date ►8December 2009 Between the parties John Stanley Francis Casey and Paula Grace Casey both C/- ASIC of Level 24,120 Collins Street, Melbourne, Victoria, 3000 (Applicants) Australian Securities and Investments Commission of Level 24,120 Collins Street, Melbourne, Victoria, 3000 (ASIC) State Trustees Limited ACN 064 593 148 of 168 Exhibition Street, Melbourne, Victoria, 3000 (Respondent) (collectively, the Parties)
Background A. The Applicants and the Respondent are parties to Federal Court of Australia Proceeding No.VID 162 of 2008, a representative proceeding under Part IVA of the Federal Court of Australia Act 1976 (Cth) in which the Applicants, on their own behalf and for and on behalf of the group members (as defined in the Amended Application) claim damages pursuant to s283F of the Corporations Act 2001 (Cth) and equitable compensation from the Respondent on alleged causes of action as pleaded in the Amended Statement of Claim. B. The Respondent denies the allegations made against it in the Amended Statement of Claim and has defended the Proceeding. C. The Applicants (on their own behalf and for and on behalf of the Group Members) and the Respondent have agreed to seek approval of a resolution of the Proceeding from the Federal Court under section 33V of the Federal Court of Australia Act 1976 (Cth) on the terms and conditions set out in this Deed without any admission of liability by the Respondent. D. This Deed has been entered into by the Applicants for and on behalf of the Group Members as representative of the Group Members pursuant to Part IVA of the Federal Court of Australia Act 1976 (Cth). This Deed witnesses that in consideration of, among other things, the mutual promises contained in this Deed, the Parties agree as set out in this Deed.
Settlement The Respondent will pay the Settlement Sum to ASIC within 10 Business Days of the making of the Approval Order. Subject to clause 2, after the Respondent has paid the Settlement Sum to ASIC and on the expiration of the period provided for an appeal from the Approval Order (but not before that time): (a) the releases provided in clause 3 will become operative; and (b) the plea in bar provided in clause 4 will become operative. If the Approval Order is made and an appeal or an application for leave to appeal from the Approval Order is commenced and the Approval Order is not set aside or materially varied then clauses 1(a) and (b) (and the clauses referred to in those clauses) will become operative 5 Business Days after the date of the Ultimate Determination of that appeal.
Approval Order refused or set aside If the Court refuses to make the Approval Order, or as part of the Ultimate Determination of an appeal from the Approval Order, the Approval Order is set aside: (a) clauses 1(a) and (b) (and the clauses referred to in those clauses) will not operate and will be of no effect; (b) ASIC, the Applicants and the Respondent will negotiate in good faith for the purposes of seeking to reach agreement upon a new form of approval order to address the reasons why the Approval Order was either not made or set aside; (c) if a new form of approval order is: (i) agreed upon by the Parties pursuant to clause 2(b) above; and (ii) made by the Court substantially in the new form so agreed pursuant to an application made by ASIC pursuant to clause 6 of this Deed, then in the event that the Respondent has either not paid the Settlement Sum to ASIC pursuant to clause 1, or the Respondent has paid the Settlement Sum to ASIC pursuant to clause 1 (and ASIC has returned the Settlement Sum to the Respondent pursuant to clause 2(h)), the Respondent will pay the Settlement Sum to ASIC within 10 Business Days of the making of the new form of approval order; (d) if a new form of approval order is: (i) agreed upon by the Parties pursuant to clause 2(b) above; and (ii) made by the Court substantially in the new form so agreed pursuant to an application made by ASIC pursuant to clause 6 of this Deed, then, if there be no appeal from the making of that order within the time period provided for issuing such an appeal then the releases in clause 3 and the plea in bar provided in clause 4 will become operative immediately after the expiration of that period; (e) if a new form of approval order is: (i) agreed upon by the Parties pursuant to clause 2(b) above; and (ii) made by the Court substantially in the new form so agreed pursuant to an application made by ASIC pursuant to clause 6 of this Deed, and an appeal is issued against the making of such order within the time period provided for issuing such an appeal then if the Ultimate Determination of that appeal is that the new form of approval order is not set aside or materially varied the releases in clause 3 and the plea in bar provided in clause 4 will become operative immediately upon the Ultimate Determination of that appeal; (f) if: (i) ASIC, the Respondent and the Applicants are unable to agree a new form of approval order within 30 days of the Approval Order being refused or set aside; or (ii) a new form of approval order having been agreed upon by them is not made by the Court substantially in the new form so agreed; or (iii) a new form of approval order having been made by the Court is subsequently set aside on appeal (including any subsequent appeal or leave to appeal), then any of ASIC, the Respondent and/or the Applicants may opt to set this Deed aside, by giving written notice to the other parties to this Deed; (g) in the event that ASIC, the Respondent and/or the Applicants provide written notice under clause 2(f) and notwithstanding clause 10, ASIC, the Applicants and the Respondent may take any step which any of them deem necessary in the Proceeding as if this Deed was never executed; and (h) where the Respondent has paid the Settlement Sum to ASIC and where the Respondent, ASIC and/or the Applicants have given notice under clause 2(f), ASIC will in accordance with any written direction of the Respondent, return the Settlement Sum to the Respondent together with any accrued interest on that sum within 10 Business Days.
Releases Subject to clause 1 and clause 2: (a) the Proceeding as between the Applicants and the Respondent, including the Applicants' and Group Members' claims for damages, equitable compensation, interest and legal and administrative costs and disbursements (present and future) is fully and finally settled; (b) the Applicants, on their own behalf and on behalf of all Group Members, release and discharge the Respondent and its present and former directors, servants, insurers, contractors and agents (Related Parties)jointly and severally from: (i) the claims made by the Applicants and all Group Members in the Proceeding; (ii) any claim arising out of or related in any way to matters that are as at the date of this Deed or were at any time the subject of the Proceeding or any part of the Proceeding including any loss suffered by Group Members as a result of investing in or holding Eligible Mezzanine Notes (as defined in the Settlement Scheme); and (iii) any claim, action, demand, suit or proceeding for damages, debt, restitution, equitable compensation, account, injunction, specific performance or any other remedy that the Applicant or any Group Member has or may have against the Respondent or any of the Related Parties in respect of: 1. the subject matter of the Proceeding or any part of the Proceeding; and 2. anything related to the Proceeding including, without limitation, any damage, loss, cost or expense suffered as a result of the subject matter of the Proceeding or any part of the Proceeding, whether arising at common law, in equity, or under statute or otherwise.
Plea in bar Subject to clause 1 and clause 2, any party bound by this Deed may plead this Deed in bar to any claim or proceeding by any other party bound by this Deed (including the Applicants and the Group Members) arising out of or related in any way to the matters that are as at the date of this Deed or were at any time the subject of the Proceeding or any part of the Proceeding.
Obligations of the Parties (a) The Parties agree to execute all documents, and do all acts reasonably necessary to comply with the terms of this Deed, including but not limited to consenting to the First Orders and the Approval Order and refraining from performing any act incompatible with the terms of this Deed. (b) ASIC agrees to comply with any orders of the Court in relation to advertising or notification of settlement of the Proceeding. (c) The Respondent agrees to provide reasonable assistance to ASIC in relation to any proceeding or contemplated proceeding in respect of the Westpoint collapse brought by ASIC or the Commonwealth Director of Public Prosecutions, with the reasonable costs of such assistance to be paid by ASIC. (d) The Respondent agrees to release a Party to the Global Mediation from: (i) any claims made by the Respondent in the Proceeding; (ii) any claim arising out of or related in any way to matters which are as at the date of this Deed or were at any time the subject of the Proceeding or any part of the Proceeding; and (iii) any claim, action, demand, suit or proceeding for damages, debt, restitution, equitable compensation, account, injunction, specific performance or any other remedy that the Respondent has or may have against the Party to the Global Mediation in respect of: 1. the subject matter of the Proceeding or any part of the Proceeding; and 2. anything related to the Proceeding including, without limitation, any damage, loss, cost or expense suffered as a result of the subject matter of the Proceeding or any part of the Proceeding, whether arising at common law, in equity, or under statute or otherwise, provided that the Party to the Global Mediation agrees to release the Respondent as per clause 5(d)(i), (ii) and (iii) mutatis mutandis and both the Respondent and the Party to the Global Mediation agree to bear their own costs, if any, in the Proceeding and the Party to the Global Mediation provides such release in writing to the Respondent by no later than 14 days after the Approval Order. (e) The Respondent agrees that it will not prove in the liquidation of any company that issued, or was the responsible entity for, an Eligible Mezzanine Note (as that term is defined in the Settlement Scheme) or a related entity of any such company, in respect of any claim that the Respondent has or may have against that company that relates to, or arises out of, or is in any way connected with, the subject matter or any part of the Proceeding.
Court approval ASIC on behalf of the Applicants shall take those steps which it considers appropriate: (a) in order to obtain the Approval Order as soon as practicable, including the tender of such expert or other evidence to the Court to facilitate the Court making the First Orders and the Approval Order; or (b) where the Approval Order is not made by the Court or is set aside on appeal, in order to obtainsuch new form of approval order as may be agreed by the Parties pursuant to clause 2(b) of this Deed as soon as practicable, including the tender of such expert or other evidence to the Court to facilitate the Court making the new form of approval order.
Settlement Scheme Subject to clause 1 and clause 2, the Settlement Sum must be applied and administered in accordance with the Settlement Scheme.
ASIC to retain any surplus Any portion of the Settlement Fund, including any interest earned on the Settlement Fund, remaining after the completion of the administration of the Settlement Scheme will be retained by ASIC in accordance with the terms of the Settlement Scheme.
No admissions The Respondent makes no admissions. There will be no orders for relief except as are necessary to give effect to this Deed or are otherwise agreed by all the Parties.
10.No further step in the Proceeding No further step is to be taken in the Proceeding by the parties bound by this Deed other than those provided for in this Deed or ordered by the Court or otherwise required by the Act or the Federal Court Rules.
11.No orders as to costs Except as otherwise provided by this Deed, no Party shall seek orders for itscosts of the Proceeding or the costs of or incidental to the application for Court approval of the settlement. The Parties agree to bear their own costs in relation to the negotiation, preparation and execution of this Deed and the performance of any obligations under this Deed.
12.Binding effect of this Deed (a) The Applicants acknowledge that, subject to the Court's approval of this Deed, they have entered into this Deed both on their own behalf and for and on behalf of the Group Members pursuant to Part IVA of the Act. (b) This Deed binds: (i) the Parties and any executor, administrator, transferee, assignee, liquidator or trustee in bankruptcy appointed in respect of any Party; (ii) each Group Member and any executor, administrator, transferee, assignee, liquidator or trustee in bankruptcy appointed in respect of such Group Member.
13.Execution of documents Each Party: (a) must do, sign, execute and deliver; and (b) that is a body corporate must take all reasonable steps to procure that each of its directors, employees and agents does, signs, executes and delivers, all deeds, documents, instruments and acts reasonably required of it or them by notice from another Party to carry out and give full effect to this Deed and the rights and obligations of the Parties under it.
14.1 How and where Notices may be sent Notice under this Deed must be in writing anddelivered by hand or sent by pre-paid post orfax to a party at the address or the fax number for that party in Schedule 4 or as otherwise specified by a party by Notice.
14.2 Email not to be used Email or similar electronic means of communication must not be used to give Notices under this Deed.
14.3 When Notices are taken to have been given and received A Notice sent by post is regarded as given and received on the second Business Day following the date of postage. A fax is regarded as given and received on production of a transmission report by the machine from which the fax was sent which indicates that the fax was sent in its entirety to the recipient's fax number, unless the recipient informs the sender that the Notice is illegible or incomplete within 24 hours of it being transmitted. A Notice delivered or received other than on a Business Day or after 4.00pm (recipient's time) is regarded as received at 9.00am on the following Business Day and a Notice delivered or received before 9.00am (recipient's time) is regarded as received at 9.00am.
15.Entire agreement and legal effect This Deed constitutes the entire agreement of the Parties in relation to the matters the subject of this Deed.
16.1 Governing law and jurisdiction This Deed is governed by the law in force in Victoria. Each party irrevocably submits to the non-exclusive jurisdiction of courts exercising jurisdiction in Victoria.
16.2 Variation A variation of any term of this Deed must be in writing and signed by the Parties.
16.3 Counterparts This Deed may be executed in any number of counterparts. 16.4 Cross- respondents It is acknowledged and agreed that nothing in this Deed shall operate to prevent or limit the Respondent from prosecuting its cross claims against: (a) the Nominated Cross Respondents or any of them; and (b) any other cross-respondent to the Proceeding who does not provide a release to the Respondent within 14 days of the Approval Order and in accordance with clause 5(d).
17.1 Agreement components This agreement includes any schedule.
17.2 Definitions The meanings of the terms used in this Deed are set out below. Term Meaning the Act Federal Court of Australia Act 1976 (Cth) Amended Application the Amended Application filed by the Applicants in the Proceeding on 28 May 2008 Amended Statement of Claim the Amended Statement of Claim filed by the Applicants in the Proceeding on 28 May 2008 Approval Order orders substantially in the form of Schedule 3 to this Deed approving the settlement of the Proceeding on the terms set out in this Deed or with such variations thereto as are agreed by each Party before the making of such order Business Day a day on which banks are open for business in Melbourne excluding a Saturday, Sunday or public holiday in that city Court the Federal Court of Australia Deed this deed executed by each and every Party First Orders orders substantially in the form of Schedule 2 to this Deed with such variations thereto as are agreed by each Party before the making of such order Group Members as defined in paragraph 2 of the Amended Application filed by the Applicants in the Proceeding on 28 May 2008 (as amended by proposed Order 7 of the Approval Order or as may be amended by any new form of approval order agreed between the Parties pursuant to clause 2(b) of this Deed) other than those persons who have opted out of the Proceeding pursuant to s33J of the Act Nominated Cross Respondents Brighton Hall Securities Pty Ltd Norton Capital Ltd Elm Financial Services Pty Ltd Lewis Securities Ltd ASG Investment Solutions Pty Ltd IFA Securities Pty Ltd Strategic Project Marketing Ltd Notice a notice or other communication under this Deed Party a party to this Deed and, in respect of the Applicants, means the Applicants both in their own capacity and in their capacity as representatives of the Group Members pursuant to Part IVA of the Act Party to the Global Mediation each of parties to the following proceedings in the Federal Court of Australia: 1. Ann Street Mezzanine Pty Ltd (In Liquidation) v Beck & Ors VID 485 of 2008; 2. York Street Mezzanine Pty Ltd (In Liquidation) v Beck & Ors VID 484 of 2008; 3. Market Street Mezzanine Limited (In Liquidation) v Beck & Ors VID 607 of 2008; 4. Bayshore Mezzanine Pty Ltd (In Liquidation) v Beck & Ors VID 608 of 2008; 5. Mount Street Mezzanine Pty Ltd (In Liquidation) v Beck & Ors VID 609 of 2008; 6. Bayview Heritage Mezzanine Pty Ltd (In Liquidation) v Beck & Ors VID 611 of 2008; 7. Market Street Mezzanine No 2 Pty Ltd (In Liquidation) v Beck & Ors VID 613 of 2008; 8. Cinema City Mezzanine Pty Ltd (In Liquidation) v Beck & Ors VID 614 of 2008; 9. Frank Bosnjak and Leonie Bosnjak v Bongiorno Financial Advisers Ltd VID 114 of 2008; 10. Peter Cyril Rikys and Ngaire Grace Rikys v Bongiorno Financial Advisers (Aust) Ltd VID 1208 of 2007; 11. Colin Anthony Green v Barzen Pty Ltd (Formerly Dukes Financial Services Pty Ltd) & Anor VID 208 of 2008; 12. Eve Markov v Joseph Dukes VID 207 of 2008; 13. Joseph Goodman v Glenhurst Corporation Pty Ltd VID 638 of 2008; 14. Jennifer Adamson and Michael Allen v Professional Investment Services Pty Ltd QUD 418 of 2007; 15. Anita Louise Rubin v Strategic Joint Partners Pty Ltd QUD 61 of 2008; each of the parties to the Supreme Court of Victoria proceeding Ann Street Mezzanine Pty Ltd (in Liquidation) and Ors v KPMG (a firm) Supreme Court of Victoria proceeding number 206 of 2008; and Finchley Holdings Pty Ltd (ACN 003 574 203). Proceeding Federal Court of Australia Proceeding No. VID 162 of 2008 Settlement Fund the Settlement Sum, together with any interest that has accrued on the Settlement Sum and has been credited at the date the determination is made under paragraph 10 of the Settlement Scheme Settlement Scheme the scheme detailed in Schedule 1 Settlement Sum the sum of AU$13.5 million to be paid by the Respondent to ASIC in accordance with clause 1 Ultimate Determination The determination of an appeal, where no subsequent appeal is made in any period provided for appeal from that appeal
17.3 Interpretation In this Deed: (a) Headings and bold type are for convenience only and do not affect the interpretation of this Deed. (b) The singular includes the plural and the plural includes the singular. (c) Words of any gender include all genders. (d) Other parts of speech and grammatical forms of a word or phrase defined in this Deed have a corresponding meaning. (e) An expression importing a person includes any company, partnership, joint venture, association, corporation or other body corporate and any government agency as well as an individual. (f) A reference to a clause, party, schedule, attachment or exhibit is a reference to a clause of, and a party, schedule, attachment or exhibit to, this Deed and a reference to this Deed includes any schedule, attachment and exhibit. (g) A reference to any legislation includes all delegated legislation made under it and amendments, consolidations, replacements or re-enactments of any of them. (h) A reference to a document includes all amendments or supplements to, or replacements or novations of, that document. (i) A reference to a party to a document includes that party's successors and permitted assignees. (j) A promise on the part of 2 or more persons binds them jointly and severally. (k) A reference to an agreement other than this Deed includes a Deed and any legally enforceable undertaking, agreement, arrangement or understanding, whether or not in writing. (l) No provision of this Deed will be construed adversely to a party because that party was responsible for the preparation of this Deed or that provision.
17.4 Interpretation of inclusive expressions Specifying anything in this Deed after the words 'include' or 'for example' or similar expressions does not limit what else is included.
17.5 Business Day Where the day on or by which any thing is to be done is not a Business Day, that thing must be done on or by the next Business Day.
Schedule 1 - Settlement Scheme Definitions Unless otherwise stated, words defined in the Deed have the same meaning in the Settlement Scheme. Unless otherwise stated, references in this schedule to paragraph numbers are references to paragraphs in this schedule. "Administrator": The person nominated by ASIC to be the administrator of the Settlement Scheme. "Approved Unrecorded Transaction": An Unrecorded Transaction that ASIC is reasonably satisfied occurred and is properly supported by documentary evidence. "Capital Return": A: 1. payment received under the terms of an Eligible Mezzanine Note other than a payment of interest; 2. dividend declared payable on an Eligible Mezzanine Note in the liquidation of an entity that issued that Eligible Mezzanine Note; 3. payment received as a result of a determination or settlement through the Financial Industry Complaints Service or the Financial Ombudsman Service of a complaint made in relation to an investment in an Eligible Mezzanine Note; or 4. payment received in purported settlement of claims against any party in relation to the loss suffered as a result of investing in an Eligible Mezzanine Note. "Capital Return Schedule": A schedule, compiled as provided in paragraph 3, organised by Group Member, and which identifies all Capital Returns known to ASIC. "Class Closure Date": The 28th day following: (i) where no appeal is commenced from the Approval Order in the time provided for an appeal from the Approval Order, the expiration of the period provided for an appeal from the Approval Order; (ii) where an appeal is commenced from the Approval Order in the time provided for an appeal from the Approval Order and the Approval Order is not materially set aside following the Ultimate Determination, the date of the Ultimate Determination; (iii) where a new form of approval order is agreed upon by the Parties pursuant to clause 2(b) of the Deed and made by the Court substantially in the new form so agreed and where no appeal is commenced from that order within the provided for an appeal from that order, the expiration of the period provided for an appeal from that order; (iv) where a new form of approval order is agreed upon by the Parties pursuant to clause 2(b) of the Deed and made by the Court substantially in the new form so agreed and an appeal is commenced from that order in the time provided for an appeal from that order, and that order is not materially set-aside following the Ultimate Determination, the date of the Ultimate Determination. "Completion of Administration": 1 year following the date of determination in paragraph 10(a). "Confirmed Return": A Capital Return that appears: 1. in the Capital Return Schedule and the Proof of Claim of a Group Member; 2. in the Proof of Claim of a Group Member; or 3. in the Capital Return Schedule but not the Proof of Claim of a Group Member but for which the relevant Group Member does not provide a statutory declaration in accordance with paragraph 6 that is acceptable to ASIC in consultation with the Administrator. "Confirmed Return Schedule": A schedule which identifies each Confirmed Return, organised by Group Member, compiled as provided in paragraphs 5(c). "Confirmed Transactions Schedule": A schedule which identifies Eligible Claimants who have submitted a Proof of Claim, compiled as provided in paragraphs 5(b) and 0. "Eligible Claimant": A person, other than a person who appears on the Opt-Out Schedule, who holds an Eligible Mezzanine Note and has suffered financial loss as a result. For the purpose of this definition, where a person has an economic interest in an Eligible Mezzanine Note, and the Eligible Mezzanine Note was acquired or is held by RBC Global Services Australia Nominees Pty Ltd or Netwealth Investments Ltd as custodian, and the discretion to decide to acquire or dispose of the Eligible Mezzanine Note (but not necessarily when to acquire or dispose of the Eligible Mezzanine Note) was and is the person's, that person will be deemed to hold such Eligible Mezzanine Note. "Eligible Mezzanine Note": A Mezzanine Note, save where an Eligible Rollover Product was issued in respect of a Mezzanine Note in which case it will be the Eligible Rollover Product where no Further Eligible Rollover Product was issued in respect of that Eligible Rollover Product or where one or more than one Further Eligible Rollover Product was issued, the last Further Eligible Rollover Product issued. "Eligible Rollover Product": A Rollover Product, excluding any part of that Rollover Product that was not issued in lieu of any repayment of capital invested in a Mezzanine Note. "Face Value": Where the Eligible Claimant holds a Mezzanine Note, the dollar amount of that Mezzanine Note less any amount issued in Mezzanine Note(s) held or previously held in lieu of payment(s) of interest on a Mezzanine Note; or Where the Eligible Claimant holds an Eligible Rollover Product, the dollar amount of that Eligible Rollover Product; or Where the Eligible Claimant holds a Further Eligible Rollover Product, the dollar amount of that Further Eligible Rollover Product. "Further Eligible Rollover Product": A Rollover Product, excluding any part of that Rollover Product that was not issued in lieu of any repayment of capital invested in an Eligible Rollover Product. "Individual Proportion": The amount to be paid to a Participating Claimant calculated in accordance with the Individual Proportion Formula. "Individual Proportion Formula": The formula at paragraph 0. "Ineligible Claimant": A person who submits a Proof of Claim who is not an Eligible Claimant. "Mezzanine Note": A 'Mezzanine Note' issued by Market Street Mezzanine Ltd (ACN 091 354 513) pursuant to a prospectus dated 20 November 2002, and including any supplementary prospectus issued by Market Street Mezzanine Ltd. "Opt-out Claimants Schedule": A schedule compiled by the Administrator in accordance with paragraph 5(a) of persons who appear on both the Proof of Claim Schedule and the Opt-out Schedule. "Opt-out Schedule": The schedule compiled from information made available to the Applicants by the Court identifying persons who opted-out of the Proceeding before 4.00pm on 16 September 2008. "Participating Claimant": A person who appears in the Confirmed Transactions Schedule. "Participating Claimants Schedule": A schedule which identifies, by Participating Claimant, the Individual Proportion to be distributed, compiled as provided in paragraph 0. This Schedule must include all details required by the Administrator to facilitate payment in accordance with paragraph 00. "Proof of Claim": The form that a person is required, in accordance with paragraph 0, to complete and submit to the Administrator in order to participate in the Settlement Scheme. "Proof of Claim Schedule": A schedule which identifies all persons who have submitted a Proof of Claim by the Class Closure Date. "Transactions Schedule": A schedule, compiled as provided in paragraph 0, which identifies all Eligible Mezzanine Notes and the identity of each holder of those Eligible Mezzanine Notes, known to ASIC. "Rollover Product": 1. 'Promissory Note' issued by Bayshore Mezzanine Pty Ltd (ACN ); 2. 'Mezzanine Note' issued by Emu Brewery Mezzanine Ltd(ACN ); 3. 'Promissory Note' issued by Emu Brewery Mezzanine Ltd (ACN ); 4. 'Promissory Note' issued by Market Street Mezzanine No 2 Pty Ltd (ACN ); 5. 'Unsecured Note' issued by North Sydney Finance Ltd (ACN ); 6. 'Unit' in the Westpoint Income Fund; or 7. any other financial product issued by a Westpoint entity. "Terms of Participation": That: 1. The person submitting the Proof of Claim is a Group Member or upon submitting the Proof of Claim will become a Group Member or has the authority to covenant in writing these terms on such person's behalf; 2. The person is an Eligible Claimant; 3. All the details in the Proof of Claim are true; and 4. Following the proper administration of the Settlement Scheme, the allocation of Individual Proportions from the Settlement Fund is final and cannot be challenged, reviewed, quashed or called into question before any court of law or administrative review body in any proceedings. "Unacknowledged Return": A Capital Return that appears in the Capital Return Schedule but not in the Proof of Claim of the relevant Group Member. "Unacknowledged Return Schedule": A schedule which identifies each Unacknowledged Return, organised by Group Member, compiled as provided in paragraph 5(c). "Unrecorded Transaction": An issue or transfer of Eligible Mezzanine Notes that is not recorded as a transaction on the Transactions Schedule, but appears in a Proof of Claim. "Unrecorded Transactions Schedule": A schedule of Unrecorded Transactions, organised by Group Member, compiled pursuant to paragraph 5(b).
Receipt of the Settlement Sum and payment of costs
Worked Examples
ANNEXURE B Annexure 'B' to the Order made [] December 2009 Letter to be sent to potential group members «Title»«Given_Name»«Surname» «Address_Line_1» «Address_Line_2» «Street» «Locality»«State»«PostCode» Private & Confidential Dear «Title»«Surname» WESTPOINT COLLAPSE: The Australian Securities & Investments Commission's ("ASIC") class action; John Casey & Anor against State Trustees Limited ("State Trustees") Federal Court Proceeding No VID 162 of 2008 (the "Proceeding") 1. This notice relates to a class action (defined above as the Proceeding), arising out of the Westpoint collapse. This notice is sent to you by order of the Hon Justice Finkelstein made on11 December 2009. 2. ASIC and State Trustees understand that you invested in mezzanine notes known as 'Market Street Mezzanine Notes'. If you did invest in, 'Market Street Mezzanine Notes', even if you subsequently rolled those notes into other Westpoint products then you may be in a class of people on whose behalf ASIC has brought the Proceeding (which means they believe you may be a 'group member' in the Proceeding). 3. This notice is important and contains information which concerns your legal rights and money that may be paid to you. You should read it carefully. If you do not understand any part of it, please seek independent legal advice in relation to its contents. 4. This notice discusses: a. a proposed settlement of the Proceeding; b. how the proposed settlement affects you; c. what you need to do in order to accept or challenge the settlement, or to raise any queries about the settlement. 5. Full details of the settlement are contained in the Deed of Settlement, copies of which are enclosed with this letter. The following is a high-level summary.
THE PROPOSED SETTLEMENT 6. An agreement has been reached between ASIC and State Trustees to settle the Proceeding. Under the proposed settlement, State Trustees has agreed to pay $13,500,000 to be distributed pro-rata according to net capital loss (being the amount invested less any capital returns) amongst those group members who lodge a proof of claim. This settlement cannot take effect without Court approval. 7. If the settlement is approved, a settlement scheme to distribute the money paid by State Trustees will be administered by ASIC. 8. Group members will need to satisfy the requirements of the settlement scheme in order to be entitled to receive money. For example, where a group member fails to lodge a proof of claim within the prescribed period, or where a group member's only loss is loss of interest payments or incurring legal costs, the group member would not be entitled to receive money under the settlement scheme. WHAT YOU STAND TO RECEIVE UNDER THE SETTLEMENT 9. The amount available for distribution to eligible group members will be approximately $13.5 million. 10. The amount payable to eligible group members will be calculated according to a formula set out in the settlement scheme (see Schedule 1 of the Deed of Settlement). 11. On the information known to ASIC, if all known eligible group members submit a proof of claim it is estimated that group members will recover at least 69 percent of the capital they invested in Market Street Mezzanine Notes, taking into account: a. monies payable under the proposed settlement; b. any other settlement payments received; and c. where a group member rolled over their investment in Market Street Mezzanine Notes into another Westpoint product, any dividends declared by a liquidator in respect of that Westpoint product. 12. The amount received by group members may be less if there are group members not known to ASIC or if information held on group members' investments in Market Street Mezzanine Notes and capital returns is not accurate. Worked Examples 13. If you invested $10,000 in Market Street Mezzanine Notes, and have not recovered any of your capital invested, your claim will be for the full $10,000 and it is estimated you will be eligible to receive approximately $6,900 (providing you submit a proof of claim within the time required). 14. Alternatively, if you invested $10,000 in Market Street Mezzanine Notes, and recovered $5000 of your capital invested through a settlement with your financial adviser, your claim will be $5000 and it is estimated you will be eligible to receive approximately $3,450 (providing you submit a proof of claim within the time required). 15. If you invested $10,000 in Market Street Mezzanine Notes and rolled over your investment into York Street Promissory Notes (or any other Westpoint product) and the liquidator of York Street Mezzanine Pty Ltd (or the relevant Westpoint company product) declared a dividend of 21.5 percent, your claim will be $7,850 and it is estimated you will be eligible to receive approximately $5,416.50. COURT APPROVAL 16. The settlement requires the approval of the Federal Court before it can take effect. 17. A hearing is scheduled for determining whether the Federal Court should approve the settlement. The hearing is at the Federal Court (305 Williams Street, Melbourne) at [INSERT DATE] 2010. At the hearing, ASIC will seek the Court's approval of the settlement, including the total settlement sum, the distribution of the settlement sum among group members, and each aspect of the proposed settlement scheme. 18. If the Court approves the settlement, then the settlement will be binding on you. This would mean that you would lose any rights you might have to take action against State Trustees in future in connection with your investment in Market Street Mezzanine Notes. WHAT YOU NEED TO DO 19. It is advisable that you seek legal advice about the settlement, particularly if you do not understand any part of this document. ASIC is not able to give you legal advice. 20. If you are in favour of the settlement, there is nothing that you need to do at this time. You will be notified of the outcome of the application to the Court to approve the settlement and what you need to do to participate in the distribution of the settlement sum. 21. If you wish to object to the settlement, you should notify the Federal Court. You should use the form set out in Schedule 1 (attached) and detail the reason why you object to the settlement It must be received by the Court before [date] 2010. If you send a notice objecting to the settlement you may appear in person, or engage a lawyer, to explain your objection to the Federal Court at [time] on [date] 2010. 22. If you require further information you should contact Mark White-Robinson of ASIC (03 9280 4629 or mark.white-robinson@asic.gov.au or Christina Klemis of ASIC (03 9280 3575 or christina.klemis@asic.gov.au).
Schedule 1 Notice in relation to Proposed Settlement of the Proceeding (To be filed in the Victoria District Registry) IN THE MATTER OF STATE TRUSTEES LIMITED (ACN 064 593 148) AND IN THE MATTER OF MARKET STREET MEZZANINE LTD (IN LIQUIDATION) (ACN 091 354 513) John Stanley Francis Casey & Paula Grace Casey v State Trustees Limited No. VID 162 of 2008 To: The Registrar Federal Court of Australia (Victoria District Registry) 305 Williams Street Melbourne VIC 3000 I, ___________________________________________, a group member in the above proceedings, give notice that I object to the proposed settlement of the representative proceeding on the terms proposed because [SET OUT IN THE SPACE BELOW THE REASONS WHY YOU OBJECT TO THE PROPOSED SETTLEMENT. IF THERE IS NOT ENOUGH SPACE, PLEASE ATTACH YOUR COMMENTS TO THIS NOTICE]: Signed: _________________________________________ Name: _________________________________________ Address: _________________________________________ Phone number: _________________________________________ Email address (if available): _________________________________________ Date: _________________________________________ ANNEXURE C Annexure 'C' to the Order made [] December 2009 Notice for Publication - intended to notify group members of the approval hearing PROPOSED SETTLEMENT OF WESTPOINT RELATED CLASS ACTION BETWEEN ASIC AND STATE TRUSTEES LIMITED The Australian Securities & Investments Commission's ("ASIC") class action; John Casey & Anor against State Trustees Limited ("State Trustees") Federal Court Proceeding No VID 162 of 2008 (the "Proceeding") This notice is published pursuant to the order of the Hon Justice Finkelstein made on [INSERT DATE], under the rules of the Federal Court of Australia, which govern the conduct of representative proceedings ("Class Actions") You should read this notice if you have lost money through investing in the failed Westpoint group In March 2008, ASIC initiated representative proceedings against State Trustees Limited ("State Trustees") in relation to investments made in mezzanine notes issued by Market Street Mezzanine Ltd, a company in the failed Westpoint group. In the proceeding, ASIC is seeking compensation on behalf of those investors who invested in Market Street Mezzanine Notes issued by Market Street Mezzanine Ltd pursuant to a Prospectus and for which State Trustees was the trustee. Those investors are called 'group members' in the court proceeding. State Trustees denies any liability to the group members, and is defending the proceeding. ASIC and State Trustees have now reached a settlement, which is subject to Court approval. If the Court approves the settlement then: 1. State Trustees shall pay ASIC $13,500,000 to be distributed amongst eligible group members who lodge a proof of claim; 2. The settlement will be binding on group members and group members will lose any rights they may have to take action against State Trustees in connection with their Market Street Mezzanine Notes; and 3. The proceeding will be dismissed. Who is a group member? You may be a group member if you invested in Market Street Mezzanine Notes issued by Market Street Mezzanine Ltd, pursuant to a prospectus, even if you later rolled those notes into other Westpoint products. However, you will not be a group member if you invested only in Market Street Promissory Notes and did not also invest in Market Street Mezzanine Notes. Am I already identified as a group member? ASIC and State Trustees already have the details of many group members. If you believe you are a group member, you should wait to see whether you receive correspondence from ASIC by [ ] December 2009. The correspondence will set out details about the proposed settlement, how it affects you, and what you need to do to accept, challenge, or raise queries in relation to, the proposed settlement. If you have not received correspondence by [] December 2009, you should contact ASIC as a matter of urgency. If you do not, ASIC may not have up to date contact details for you, and you may not have information you require in order to be able to participate in the settlement scheme (if approved). When is the Court hearing for approval of the settlement? The hearing of the application for approval of the settlement will take place at the Federal Court in Melbourne (305 Williams Street, Melbourne), at [date] 2010. If you think you are a group member, and either (i) you wish to object to the settlement or (ii) you disagree with your classification as a group member, then you are entitled to appear at the hearing and raise those issues. Who do I contact for further information? You should contact Mark White-Robinson of ASIC (03 9280 4629 or mark.white-robinson@asic.gov.au or Christina Klemis of ASIC (03 9280 3575 or christina.klemis@asic.gov.au). Please note that ASIC cannot give you legal advice, and you should seek your own legal advice about the proposed settlement.
Schedule 3 - Approval Order IN THE FEDERAL COURT OF AUSTRALIA VICTORIAN DISTRICT REGISTRY No. VID 162 of 2008 BETWEEN JOHN STANLEY FRANCIS casey AND PAULA GRACE CASEY Applicants and State trustees limited (ACN 064 593 148) Respondent THE COURT ORDERS BY CONSENT THAT: 1. Pursuant to s 33V of the Federal Court of Australia Act 1976 (Cth), the Court hereby approves the settlement of this Proceeding in accordance with the terms of the Deed of Settlement, a copy of which is Annexure 'A' to these Orders (the Deed of Settlement). 2. ASIC cause a notice in the form of Annexure 'A' to these Orders to be sent by pre-paid post to the last known address of each person listed in Schedule 5 of the Deed of Settlement by no later than [insert date]. 3. ASIC cause a notice in the form of Annexure 'B' to these Orders to be published in the legal notices section or the equivalent of The Australian and on the ASIC website by no later than [10 days after the Approval Order is made]. 4. The cost of complying with Orders 2 and 3 be paid by ASIC and then be part of the Applicant's costs in the cause. 5. All costs orders made to date in the Proceeding are hereby vacated. 6. There will be no order as to the costs of the Proceeding. 7. The Amended Application filed on 28 May 2008 (the Amended Application) be further amended to provide that the group members to whom the proceeding relates within the meaning of s 33H of the Act be persons who: (a) invested in or otherwise hold or held mezzanine notes issued by Market Street Mezzanine Ltd (ACN 091 354 513) pursuant to a prospectus dated 20 November 2002; (b) suffered financial loss or damage as a result; and (c) either: 1) appear in the Schedule of Potential Group Members (schedule 5 to the Deed of Settlement); /or 2) do not appear in the Schedule of Potential Group Members and lodge a proof of claim in accordance with the Settlement Scheme (schedule 1 to the Deed of Settlement). 8. Pursuant to s 33ZF of the Act or otherwise, the Court authorises the Applicant nunc pro tunc on behalf of the group members described in Order 7 to enter into and to give effect to the Deed of Settlement and the transactions thereby contemplated for and on behalf of those group members. 9. Pursuant to s 33ZB(a) of the Act, the Court declares that the persons affected and bound by these orders are the Applicant, the Respondent, and the group members who are defined in the Amended Application as amended by Order 7, save for those group members who have opted out of the representative proceeding where the opt out notice was received by the Court before 4.00pm on 16 September 2008, pursuant to notices filed with the Court pursuant to s 33J of the Act. 10. The Amended Application filed on 28 May 2008 be otherwise dismissed without prejudice to the right of the Respondent to pursue its cross claims against any of the cross-respondents in the Proceeding, subject to the terms of clause 5(d) of the Deed of Settlement. 11. Pursuant to section 50 of the Act that the Applicant's Confidential Submissions dated [XX] July 2009 (Confidential Submissions) not be published to any person without further order of the Court. 12. That the Confidential Submissions be sealed on the Court file and not be disclosed to any person without further order of the Court. 13. Pursuant to section 50 of the Act that paragraph [ ] of the affidavit of [ ] sworn [ ] and exhibit "[ ]" to that affidavit, (the Affidavit) not be published to any person without further order of the Court. 14. That the Affidavit be sealed on the Court file and not be disclosed to any person without further order of the Court. 15. ASIC may approach the Court, after giving at least 7 days' notice to the Respondent, to seek an extension of time from the Court to complete any of the steps provided for in the Settlement Scheme, being Schedule 1 to the Deed of Settlement. 16. The Respondent pay the sum of $13,500,000 to ASIC by [10 Business Days after this Order is made] in accordance with the Deed of Settlement. Dated: 2010
ANNEXURE A Annexure 'A' to the Order made [] 2010 Letter to be sent to group members «Title»«Given_Name»«Surname» «Address_Line_1» «Address_Line_2» «Street» «Locality»«State»«PostCode» Private & Confidential Dear «Title»«Surname» WESTPOINT COLLAPSE: The Australian Securities & Investments Commission's ("ASIC") class action; John Casey & Anor against State Trustees Limited ("State Trustees") Federal Court Proceeding No VID 162 of 2008 (the "Proceeding") 1. This notice relates to a class action (defined above as the Proceeding), arising out of the Westpoint collapse. This notice is sent to you by order of the Hon Justice Finkelstein made on[] 2010. COURT APPROVAL 2. On [insert date] the Federal Court of Australia approved the settlement of the Proceeding. 3. Under the settlement: a. State Trustees shall pay ASIC $13,500,000 to be distributed amongst eligible group members who lodge a proof of claim; b. The settlement is binding on group members including you and you may take no further action against State Trustees in connection with your Market Street Mezzanine Notes; c. The settlement scheme is being administered by ASIC; and d. The proceeding was dismissed. WHAT YOU NEED TO DO 4. If you wish to make a claim, you will need to complete the following steps: a. Complete the Proof of Claim form enclosed. b. The Proof of Claim must be completed by no later than [insert date] ("Closing Date"). If you do not submit your claim by the Closing Date you will not be entitled to participate in the settlement scheme and you will not receive any of the settlement monies. c. Claims will be processed after verification against the information held by ASIC. You will be advised if you have submitted an ineligible claim or if further supporting documents are required. 5. If you have submitted a valid claim it is anticipated that payment will be made approximately 3 months after the Closing Date. 6. If you require further information you should contact Mark White-Robinson of ASIC (03 9280 4629 or mark.white-robinson@asic.gov.au or Christina Klemis of ASIC (03 9280 3575 or christina.klemis@asic.gov.au). LEGAL ADVICE 7. It is advisable that you seek legal advice about the settlement, particularly if you do not understand any part of this document. ASIC is not able to give you legal advice.
ANNEXURE B Annexure 'B' to the Order made [] December 2009 Notice for Publication - intended to notify group members of the approval hearing COURT APPROVES SETTLEMENT OF WESTPOINT RELATED CLASS ACTION BETWEEN ASIC AND STATE TRUSTEES LIMITED The Australian Securities & Investments Commission's ("ASIC") class action; John Casey & Anor against State Trustees Limited ("State Trustees") Federal Court Proceeding No VID 162 of 2008 (the "Proceeding") This notice is published pursuant to the order of the Hon Justice Finkelstein made on [INSERT DATE], under the rules of the Federal Court of Australia, which govern the conduct of representative proceedings ("Class Actions") You should read this notice if you have lost money through investing in the failed Westpoint group On [insert date] the Federal Court of Australia approved the settlement of the Proceeding. Under the settlement: · State Trustees shall pay ASIC $13,500,000 to be distributed amongst eligible group members who lodge a proof of claim; · The settlement is binding on group members and group members may take no further action against State Trustees in connection with their Market Street Mezzanine Notes; · The settlement scheme is being administered by ASIC; and · The Proceeding was dismissed. Who is a group member? You may be a group member if you invested in Market Street Mezzanine Notes issued by Market Street Mezzanine Ltd, pursuant to a prospectus, even if you later rolled those notes into other Westpoint products. However, you will not be a group member if you invested only in Market Street Promissory Notes and did not also invest in Market Street Mezzanine Notes. Am I already identified as a group member? ASIC and State Trustees already have the details of many group members. If you believe you are a group member, you should wait to see whether you receive correspondence from ASIC by [insert date]. The correspondence will enclose a proof of claim form which group members must complete and return by [insert date] should they wish to participate in the distribution of settlement monies. A copy of the correspondence including the proof of claim form is available on ASIC's website [insert website details]. Group members who do not complete and return the proof of claim form by [insert date] will not be eligible to participate in the distribution of settlement monies. Who do I contact for further information? You should contact Mark White-Robinson of ASIC (03 9280 4629 or mark.white-robinson@asic.gov.au or Christina Klemis of ASIC (03 9280 3575 or christina.klemis@asic.gov.au). Please note that ASIC cannot give you legal advice, and you should seek your own legal advice about the proposed settlement.
Schedule 4 - Notice details Clause 14 John Stanley Francis Casey and Paula Grace Casey Address C-/ ASIC, Level 24, 120 Collins Street, Melbourne, Victoria 3000 Attention Ms Christina Klemis Phone 03 9280 3575 Fax 03 9280 3444
Australian Securities and Investments Commission Address C-/ ASIC, Level 24, 120 Collins Street, Melbourne, Victoria 3000 Attention Ms Christina Klemis Phone 03 9280 3575 Fax 03 9280 3444
State Trustees Limited Address C/- Maddocks, Level 6, 140 William St, Melbourne, Victoria 3000 Attention David Laidlaw Phone 03 9288 0555 Fax 03 9288 0666
Schedule 5 - List of potential Group Members Casey & Anor v State Trustees Limited Investor 1 A & L Broad Pty Ltd ATF A & L Broad Superannuation Fund 2 A Fior Nominees Pty Ltd 3 A Rochman & H Blatman ATF Melville Nominees P/L 4 Abraham Rubinfeld 5 Abram Mlynek 6 Adrian Kenyon 7 AJ Peck & Associates Pty Ltd ATF Peck Superannuation Pension Fund 8 Alan Brian Gregory 9 Alan Morcombe & Marlene Morcombe ATF The Morcombe Superannuation Fund 10 Alan Norman Rowe & Janelle Christine Rowe ATF Rowe Family Superannuation Fund 11 Albert Frederick Davis & Janet Mary Davis ATF The Davis Superannuation Fund 12 Albert Gerard & Bettie Joy Thompson ATF A & B Thompson Superannuation Fund 13 Alfred & Grace Scargall ATF A & G Scargall Superannuation Fund 14 ALH Pty Ltd ATF Halmos Superannuation Fund 15 Ali Pty Ltd ATF Arena Super Fund 16 Alimchem Pty Ltd ATF Alimchem Retirement Benefit Fund 17 Alistair James George & Delia Kathleen Conneely ATF Julenisse Investments Super A/C 18 Allan Bennett ATF The Techwa Trust 19 Allan Wight & Jenny-Lyn Wight ATF A & J Wight Superannuation Fund 20 Allison M.Pomfret 21 Amberdale Holdings Pty Ltd 22 Andre Gajek 23 Andrea Hatzidis 24 Andrew Bryan Maxfield and Fay Nanette Maxfield ATF B & F Maxfield Super Fund 25 Andrew Northcott & Simone Therese Northcott 26 Andrew Terracini & Ruth Terracini ATF The A & R Terracini Trust 27 Ann Elizabeth Terracini 28 Ann Isabelle Bekker 29 Anna Maria Larsen ATF Larsen Family Trust 30 Annette Dorothy Scagliotta 31 Anrick Nominees Pty Ltd ATF The Field Superannuation Fund 32 Anthony Edward Anderson & Elizabeth Monica Anderson ATF Anderson Family Superannuation Fund 33 Anthony Mason & Pamela Ruth Mason ATF Mason Family Superannuation Fund 34 Anthony Peter Norton & Patricia Maree Hopwood 35 Anthony Trad ATF The Itchy Dog Superannuation Fund 36 Arlene Dawn Vandersant 37 Atinara Pty Ltd ATF Ford Super Fund 38 Audrey Alice Kirk 39 Audrey Houghton 40 Austglow Pty Ltd 41 Australian Executor Trustees Limited ATF RC Tingey PSF A/C 42 Aylene Springall Pty Ltd ATF Aylene Springall Superannuation Fund Portfolio Account 43 B & C Thoma Pty Ltd ATF B & C Thoma Superannuation Fund 44 B & J Bonnici Pty Ltd ATF B & J Bonnici Superannuation Fund 45 B & J Burns Pty Ltd ATF Burns Family Trust 46 BA & IP Kaufmann ATF The She Superannuation Fund 47 Barbara Ann Lewis 48 Barbara Woods 49 Barbara Woods Pty Ltd ATF Barbara Woods Superannuation Fund 50 Barry Baldi ATF Christopher Baldi 51 Barry Kenneth Duncan Deeth & Ida Margaret Gazzo 52 Barry McKercher 53 BD Holdings Pty Ltd 54 Beaulene Pty Ltd ATF Peart Superannuation Fund 55 Benn Hor & Shirley Louie ATF The Bennshirley Superannuation Fund 56 Bernadette Saliba 57 Best In Pine Pty Ltd ATF Mortelliti Directors Super Fund 58 Betty Elaine Werner 59 Beulah Chambers 60 Brad Steven Swinbourn ATF Brad Swinbourn Family Trust 61 Brallini Pty Ltd ATF Baker Family Trust 62 Brenzo Pty Ltd ATF The Brenzo Philippe Superannuation Fund 63 Brian & Elisabeth Batchelor ITF B & E Batchelor Superannuation Fund 64 Brian Palesy ATF Palesy Superannuation Fund 65 Brian Prust Woodyatt 66 Brian Victor Stockwell 67 Brighton Rigging & Scaffolding Pty Ltd ATF Fresher Superannuation Fund 68 Brucart Pty Ltd ATF Bruce Carter Super Fund 69 Bruce Johnson & Jennifer Johnson ATF Johnson Superannuation Fund 70 Bruce Munroe & Christine Munroe ATF The Munroe Super Fund 71 Bruce Sedgman & Lynette Dawn Sedgman 72 Buckey Superannuation Pty Ltd ATF Superannuation Fund 73 Buvelot Pty Ltd 74 Bux Pty Ltd ITF Bux Super Fund 75 BWW Pty Ltd ATF BWW Unit Trust 76 C & J Karakonstandis ATF Karakonstandis Superannuation Fund 77 Carl Maroney & Angela Anderson 78 Carolyn Self 79 Catherine Stevenson 80 Cees Anton & Wilhelmina Cath Maria Koeman ATF Koeman Family Superannuation Fund 81 Charles Dean & Elaine Dean 82 Charlie & Isabella Bugeja 83 Charlie & Isabella Bugeja Pty Ltd ATF C & I Bugeja Superannuation Fund 84 Charlie Zahra & Grace Zahra 85 Cherilyn Caldow 86 Christos Agneskis 87 Claire Bell & Geoffrey Kitchen ATF The Kitchen & Bell Super Fund 88 Claire Fegent & Jennifer Fegent ATF CP Fegent Super Fund 89 Clarence Murray Kubank & Betty Maureen Kubank 90 Clearwater Corporate Services Pty Ltd ATF DS Family Trust 91 Colin Freeman Ashton & Margaret Joan Ashton 92 Colin Geoffrey Husk & Kim Angela Husk ATF The Husk Superannuation Fund 93 Colin Heavens ATF Colin Heavens Retirement Fund 94 Colin Payne & Margaret Payne ATF Future Wealth Superannuation Fund 95 Colin Thomas Evans & Wendy Jane Evans ATF Colwen Discretionary Trust 96 Concetta Marie Panizza 97 Craig Arthur Chalmers & Julie Samantha Chalmers ATF Chalmers Family Super Fund 98 Craig Mathew Waring & Katarina Waring ATF Waring Superannuation Fund 99 Cutajar Pty Ltd ITF Cutajar Super Fund 100 Daniel Lippis & Kirstie Johns 101 Danila Marinolli 102 Daphne Anson ATF Anson Family Trust 103 Daphne Norris Vickery 104 David & Rita Bottomley ATF Rida Pty Ltd Superannuation Fund 105 David Anthony Knife 106 David Bertram Tilley & Ingrid Christine Tilley ATF Tilhes Superannuation Fund 107 David Charles Anderson & Elizabeth Ann Anderson 108 David Gray, Anne Gray & Clare Gray ATF The Gray Family Superannuation Fund 109 David John Peterson 110 David Leslie Stone & Margaretta Joan Stone ATF Stone Superannuation Fund 111 David Mitchell Steele ATF DM Steele Superannuation Fund 112 David Phillip Hince & Irene Tan Hince 113 David Robert Brooks 114 David Taylor & Bronwyn Taylor ATF Taylor Family Superannuation Fund 115 Delaree Pty Ltd ATF Nielsen Family Super Fund 116 Delgarah Pty Ltd 117 Delta Australia Pacific Pty Ltd ATF Delta Superannuation Fund A/C 118 Denise Waddington 119 Dennis Alfred Sciortino & Sybille Marie Sciortino ATF Sciortino Family Super Fund 120 Dennis Mann ATF Valiant-Mann Staff Pension Fund 121 Desmond & Judy Harvey ATF The D R Harvey Superannuation Fund 122 Diane Stewart ATF The Diane Joyce Stewart Trust 123 Dianne Hewitt 124 DJ Marwood Pty Ltd ATF DJ Marwood Superannuation Fund 125 DJ Wilson Pty Ltd ATF David Wilson Super Fund A/C 126 Donald & Fiona Crabb ATF The Donfi Crabb Super Fund 127 Donald James Sutherland & Marlene Jeanette Sutherland ATF Marldon Pension Fund 128 Donald John Errington & Claire Errington ATF DJ & C Errington Staff Super Fund 129 Donald Ross Ewing & Fiona Jane Ewing 130 Donna Gail Susanne Douglas 131 Doris Watson 132 Doug Gardner & Peter Males ATF Doug Gardner Super Fund 133 Douglas Gibson Menswear Pty Ltd ATF Douglas Gibson Superannuation Fund 134 Dr T R & Mrs J Thomson 135 Durston Wealth Management Pty Ltd ATF 2032 Retirement Fund 136 E & V Engineering Pty Ltd ATF The Mavros Superannuation Fund 137 E Garratt & F Garratt ATF The Garratt Family Pension Fund 138 Edeltraut Ingrid Meyer 139 Edith Margot Elsley 140 EJ & C Wickens ATF EJ & C Wickens Superannuation Fund 141 EJ Thomson & AJ Thomson ATF The Thomson Retirement Fund A/C 142 Elanna Rose Garufi 143 Eleventh Bantu Pty Ltd ATF Dingley Superannuation Fund 144 Elizabeth Anne Griffin 145 Elizabeth Brewer 146 Elizabeth Patricia Hamilton 147 Elizabeth Ursula Malatesta & Lorris John Malatesta ATF The Elizabeth & Lorris Malatesta Family Trust 148 Ellis John Butcher and Margaret Rose Butcher ATF The E & M Butcher Family Trust 149 Emma McCarthy 150 Erich Andres & Martina Peters ATF Andres Superannuation Fund 151 Eryn Kestel 152 Esna Goldman 153 Estate Late Ruth Beatrice Owen 154 Esther Louise Jones 155 Eugenia Yatskin 156 Evelyn Jeanette Boquest 157 Executors of the Estate of Myra Husk 158 Fishgills Pty Ltd ATF Gillon Superannuation Fund 159 Francesco Marra 160 Frank Paul Saliba & Doreen Mary Saliba 161 Frederick Roland Woolcock & Joan Woolcock 162 G & J Boothby ATF G & J Boothby Superannuation Fund 163 G & L Scaffold Contracting Pty Ltd ATF The Warren Super Fund 164 Gavin Mark Harris 165 Gaye Duirs ATF Duirs Family Trust 166 Geoffrey & Bernadette Stepnell ITF G & B Stepnell Superannuation Fund 167 Geoffrey Arthur Thorn 168 Geoffrey Liddicoat ATF G J Liddicoat Superannuation Fund 169 Geoffrey Raymond Smirk 170 Geoffrey Thomas Wise & Stephen Geoffrey Wise ATF GT Wise Superannuation Fund 171 George & Connie Davies-Patrick ITF G & C Davies-Patrick Super Fund 172 Geraldine Leanne Davidson 173 Gerard Andre Vermote 174 GN & MJ Prentice ATF The Prentice Superannuation Fund 175 Godfrey Kenneth Baronie 176 Graeme Dean Hobson & Jayne Louise Hobson 177 Graeme Hart ATF Hartwood Superannuation Fund 178 Graeme Michael Davey 179 Graeme William Wishart & Dorothy Mary Wishart 180 Graham Kenneth Holmes 181 Graham Leslie Cullingford 182 Gregory Clyde Campbell 183 Gregory David & Valerie Kay Siebenhausen ATF The Siebenhausen Superannuation Benefit Fund 184 Gregory Donald Warren & Lyal Anne Warren ATF GD Warren Superannuation Fund 185 Gregory William Mienert & Lois Catherine-Ann Mienert ATF The Mienert Superannuation Fund 186 Hans Gustav Otto Schmidt & Maria Schmidt 187 Harold Wesley Pears & Grace Mary Pears ATF The Pears Family Trust 188 Heather Joan Camp 189 Heather Mary Parker & Joan Christopher Parker ATF Heather Parker Super Fund 190 Helen Kremer 191 Helen Mary Johnson 192 Helen Schicha & Eberhard Schicha 193 Helene Margery Boucher & Debra Gibson ATF HM Boucher Super Fund 194 Henry Anthony Ferguson & Barbara June Ferguson ATF Blue Wren Superannuation Fund 195 Herman Yuen 196 Hilary Anne Fowle 197 Hiltlip Pty Ltd ATF The Waterreus Superannuation Fund 198 Horst Heinz Zulsdorf 199 Hurly Investments Pty Ltd 200 Ian Backhouse & Robyn Backhouse ATF Robian Superannuation Fund 201 Ian James Wishart 202 Ian Kenneth James 203 Ian Philip Cliff & Lorraine Anne Cliff 204 Ian William & Patricia Ann Trudgen ATF Emblem Holdings Superannuation Fund 205 Ilija Andrioski 206 Insight Business Systems Pty Ltd ATF Gilbert Family Superannuation Fund 207 Ioli Giuseppina Panizza 208 Isabella May Boman 209 Italimports Pty Ltd ATF The Slama Superannuation Fund 210 Ivan Clarke & Dianne Clarke ATF Clarke Family Superannuation Fund 211 Ivan Joseph Maher & Patricia June Maher 212 J & M Ribeiro ATF J & M Ribeiro Super Fund 213 Jack Ingram & Dawn Marie Ingram ATF The Ingram Super Fund 214 Jacklyn Monica Finnegan 215 Jacob Swarts & Alwyn Terpstra ATF J-Sat Superannuation Fund 216 Jacqueline Hunter 217 James Patrick Boman 218 James Phillip Rawlings 219 Jane Thompson Pty Ltd ITF Jasmax Superannuation Fund 220 Janet Irene Lyons 221 Janet Mary Sheehan 222 Janice May Bulmer 223 Janine Maree Waters & William Le Mesurier Waters 224 Jannet Patching & Shane Keith Patching 225 Jasco (QLD) Pty Ltd ATF Jaalmeg Discretionary Trust 226 Jason Leigh Jenkins & Janet Nola McCrum ATF J Jenkins Superannuation Fund 227 Jaye Kumar ATF Nikita Trust 228 Jean Stewart 229 Jean-Marc Lesbros & Monique Lesbros ATF The Lesbros Family Superannuation Fund 230 Jennifer Ann Banfield 231 Jennifer Isaacs 232 Jennifer Marilyn Ann Butcher 233 Jerzy Zdzislaw Kowalski & Beata Barbara Kowalski 234 Jill Angela Cooper 235 Joan Patricia Webb 236 Joanne Hurt 237 John & Beverley Hill ATF JD Hill Retirement Fund 238 John & Carolin Frances Krumpelman ATF Krumpelman Family Superannuation Fund 239 John & Heather Tingay ATF Tingay Superannuation Fund 240 John & June Staal ATF Staal Superannuation Fund 241 John & Maryann Hogan ITF J & M Hogan Super Fund 242 John & Paul Casey ITF JSFC Superannuation Fund 243 John Anthony Norton 244 John Bray ATF Bray Superannuation Fund 245 John Charles Gromlick 246 John David Crago & Jean Muriel Crago 247 John Davies & Margaret Ann Davies 248 John Elis Hunt 249 John Hill ATF JD Hill Retirement Fund 250 John Howard Brooks & Dorothy Grace Brooks 251 John Hurt & Joanne Hurt ATF Hurt Family Superannuation Fund 252 John Lindsay Todd ATF The John L Todd Family Trust No. 2 253 John Obszanski ATF JLO Superannuation fund 254 John O'Grady & Kerrie Andrews ATF The Jog Retirement Fund 255 John Sainsbury ATF J G Sainsbury Retirement Fund 256 John Walker & Sylvia Walker ATF John Walker Super Fund 257 John, Ann, Alan & Bronwyn Steer ATF Steers Pension Fund 258 Jonathan David Moore ATF JD Moore Investment Trust 259 Joseph Ferraro and Maria Ferraro 260 Joseph M Chamizo Pty Ltd ATF JM Chamizo Superannuation Fund 261 Joseph Middleton & Carmel Middleton 262 Joy Covill 263 Judith Anne Funk & Gordon John Funk 264 Judith Anne Turton 265 Julia Mary Lund ATF Lund Retirement Fund 266 Julie Anne Stewert-Dawkins 267 Jullan Pty Ltd ATF S & AR Superannuation Fund 268 June Lehmann & Heidi Lehmann ATF Lehmann Family Superannuation Fund 269 Ju-Yu Wu 270 K Wharton Pty Ltd ITF K Wharton Super Fund 271 Karen Jayne Jackson 272 Karin Frederickson 273 Kathryn Betty Sloan 274 Kathryn Matzko Apps 275 Keith Woods 276 Keren Lilian Green 277 Kerrie Faye Andrews 278 Kerry Ann Hogan 279 Kerry Hammond Oldfield 280 Kerry Michael Day & Joyce Day ATF The Day Family Trust 281 Kevcal Pty Ltd ATF HCW Trust 282 Kevin H Bailey & Robert James Oliver Boyle ATF Borvek Pty Ltd Directors Superannuation Fund 283 Kevin John O'Brien & Carmel Brigid O'Brien 284 Kimberley J T Morrison & Christine P Morrison ATF Goldbond No 2 Superannuation Fund 285 Kurt Kuhn & Gerda Kuhn 286 Lazar Petrov Radanovich 287 Lena Loganathan 288 Leslie Clive 289 Leslie Edward Sinden & Lorraine Joy Sinden 290 Lester Edward McManus & Desley May McManus ATF McManus Retirement Fund 291 Lewis Nominees Pty Ltd A/C Heathray Pty Ltd 292 Lewis Nominees Pty Ltd A/C Herapaki Pty Ltd 293 Lewis Nominees Pty Ltd A/C John Saunders PPF 294 Lewis Nominees Pty Ltd A/C Kathy Lette 295 Lewis Nominees Pty Ltd A/C Kim Kime & Michael Kime 296 Lewis Nominees Pty Ltd A/C Wybara Papf A/C M Lette No 2 297 Lisa Natalie Boman & Alexander Ross Moir 298 Louise Maree Wightman 299 Lufrat Pty Ltd ATF Isamot Family Superannuation Fund 300 Luigi Jim Bellicanta & Lina Bellicanta ATF Bellicanta Superannuation Fund 301 Lynette Rhonda Petty 302 Maher 303 Maja Skrlj-Tufegdzic 304 Majyrs Pty Ltd ATF M & Y James Family Trust 305 Malcolm & Heather Pollock ATF The Pollock Super Fund 306 Malcolm Taylor & Ianeta Vera Taylor ATF M & I Taylor Superannuation Fund 307 Maria-Noel Mattocks 308 Marion Nowotna 309 Mary Faithful Richards 310 Matthew Komp 311 Matthew Robert Daniel ATF Matt Daniel Super Fund 312 Matthias Faubel & Shelley Faubel ATF Faubel Super Fund 313 Maude Louise O'Donohue 314 Maureen Howe 315 Max Allport & Marilyn Allport 316 Maxine Kaye Harris & Evanton Ross Harris ATF Aura Superannuation Fund 317 Maxwell Robert Weedon & Nyole Natalie Weedon ATF R & N Weedon Superannuation Fund 318 McKercher Holdings Pty Ltd ATF McKercher Superannuation Fund 319 Melimay Pty Ltd ATF Tyson Superannuation Fund 320 Melissa Jayne Essex & Anthony Tod Essex 321 Merrilyn Collins 322 Michael Barrie Oldfield & Sallie Claudia Oldfield 323 Michael Hickey and Carolyn Hickey ATF Gregory Hickey Staff Super Fund 324 Michael John Bryant & Sharon Mary Bryant ATF Bryant Superannuation Fund 325 Michael Sherr & Malvina Sherr ATF Sherr Superannuation Fund 326 Michael Van Der Donk 327 Michelle Louise Willis 328 Milton Lyle Frederick Hunt & Georgina Mary Hunt 329 Milton Morris Mincherton & Shirley Lorraine Mincherton ATF Mincherton Superannuation Fund 330 Minahan Investments Pty Ltd ATF Minahan Investments Superannuation 331 Mong Tuyen Pham 332 Monique Vanessa Champion 333 Mount Devise No. 2 Pty Ltd ATF The Elvie Pelman Family Trust 334 MTJ Napper & MA Napper ATF Napper Superannuation Fund 335 Murray Leslie Hickling & Debra Anne Hickling ATF M & D Hickling Investment Trust 336 N A M Investment Company Pty Ltd ATF The Noelyn Superannuation Fund 337 N Stewart & SM Stewart ATF Stewart Superannuation Fund 338 Na-Vale Nominees Pty Ltd ATF Na-Vale Superannuation Pension Fund 339 Navaz Mahuvawalla Dakin 340 Neal John Richard Paynter & Ethel Roma Paynter 341 Neil Ibbott & Vivien Ibbott 342 Neil James & Jenifer James ATF James Superannuation Fund 343 Netwealth Investments Ltd - Wrap Service A/C 344 Neville Gordon Hill & Donnamarie Noble-Hill 345 Nicholas John Aitken ATF NJ & LA Aitken Superannuation Fund 346 Nicholas Tesdorf & Karin-Ann Tesdorf ATF Tesdorf Superannuation Fund 347 Nicole Anne Smith & Marilyn A Sullivan ATF Marilyn A Sullivan Superannuation Fund 348 Ninlamed Nominees P/L ATF J & R Cohen Family Trust 349 Noel Davis 350 Northdale Pty Ltd ATF Freeman Employees Superannuation Fund 351 Nowingi Downs Pty Ltd ATF Marwood Family Superannuation Fund 352 Nu-Thom Nominees Pty Ltd 353 Nydegger Christine 354 Oakenshaw Nominees Pty Ltd ATF Wisteria Superannuation Fund 355 Orontes Pty Ltd ATF Perna Family Superannuation Fund 356 Owen Godwin 357 P J Steele Pty Ltd ATF Phillip Steele Super Fund 358 P.D. Kiely Medical Pty Ltd ATF Superannuation Fund 359 Pamela Faye Whyte 360 Pamela Hawkless 361 Pamela Margaret Cooper & Wayne Ross Cooper 362 Patricia Anne Truesdale 363 Patricia Buckley 364 Patricia Howard 365 Patricia Margaret Johnson 366 Patrick Joseph Murphy ATF P J & D Murphy Pension Fund 367 Paula Beth Pthalo Price Spring 368 Pauline A Roy & David W Roy ATF The P&D Roy Superannuation Fund 369 Penoak Pty Ltd 370 Perpetual Trustee Co Ltd A/C John & Louise D'ugo Super Fund 371 Perpetual Trustee Company Limited A/C Alder Family Super Fund 372 Perpetual Trustee Company Limited A/C Fisher Family Super Fund 373 Perpetual Trustee Company Limited A/C Paul Tranent Super Fund 374 Perpetual Trustee Company Ltd - A/C Maria McCarthy Super Fund 375 Perpetual Trustee Company Ltd A/C Angus Family Super Fund 376 Perpetual Trustee Company Ltd A/C Ken Simington Super Fund 377 Pesi Jehangir Mahuvawalla & Dhun Pesi Mahuvawalla 378 Peter & Rennie Gonis 379 Peter A Elliott & Karen F Elliott ATF Elliott Family Superannuation Fund 380 Peter Chase 381 Peter Edward Hamilton 382 Peter Golding & Mary Golding ATF Golding Family Fund 383 Peter Norman Burney 384 Peter Norman Burney & Susanne Frances Burney ATF Burney Superannuation Fund 385 Peter Richardson 386 Peter Thomas Byrne 387 Philip Douglas Heyhoe 388 Philip Edward Craggs 389 Philip John Hogg 390 Philip Rex Knuckey 391 Philip Rex Nicolle & Betty Lesley Nicolle ATF Zonia Superannuation Fund 392 Philip Wilson ATF PH Wilson Personal Super Fund 393 Phillip Greenup 394 Phuong Van 395 Pilbara Horizon Pty Ltd 396 Primelo Pty Ltd 397 Project Television Pty Ltd ATF Little Eagle Super Fund 398 R.J.O. Boyle Pty Ltd 399 Rachel Anne Bascombe 400 Rae Linette Cooper 401 Raoul Peter Dunk ATF The R P & C M Dunk Retirement Fund 402 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 20305 D8 A/C) 403 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 47368 D5 A/C) 404 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 47368D501) 405 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 68346D501 A/C) 406 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 75488D5 A/C) 407 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 78954 D8 A/C) 408 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 79093D501 A/C) 409 RBC Global Services Australia Nominees Pty Ltd (Flexiplan 80504D701 A/C) 410 Red River Nominees Pty Ltd ATF Lumsden Superannuation Fund 411 Reginald Thomas Flanagan & Ena Margaret Flanagan 412 Renard Pty Ltd ATF Renard Pty Ltd Super Fund 413 Renato Cantalup & Sylvia Hillebrand ATF The S & R Superannuation Fund 414 Res Bella Pty Ltd ATF Jolan Trust 415 Revebrook Pty Ltd ATF The Bevis Staff Superannuation Fund 416 Rex William Sweet & Denise Esther Sweet 417 Richard & Catherine Priestley ATF R & C Priestley Super Fund 418 Richard Norman & Mario Sandrini ATF Norsan Superannuation Fund 419 Richard Norman Cobley ATF Mt Kenneth Superannuation Fund 420 Richard Norman Cobley ATF R & R Cobley Family Superannuation Fund 421 Richard Seymour & Judith Seymour ATF Seymour Superannuation Fund 422 Rick Kim Eng Lim 423 Ridge Securities Pty Ltd ATF Ridge Securities Superannuation Fund 424 Rita Silvestri 425 RJ & NA McNally ATF Lifestyle Superannuation Fund 426 RJ McGuinness Pty Ltd 427 Robert & Linda Collins ITF Froggies Investment Super Fund 428 Robert Allan Reinecke ATF Hawkstone Superannuation Fund 429 Robert Bruce & Janet Bruce ATF The BF Superannuation Fund 430 Robert John Hancock & Anne Veronica Hancock ATF R & A Hancock Superannuation Fund 431 Robert John Saunders 432 Robert Leslie Frayzer & Ray Louise Frayzer 433 Robert Masters & Jillian Masters ATF Robert Masters & Associates Super Fund 434 Robert Wayne Manning & Yvonne Ann Manning ATF Manning Superannuation Fund 435 Roderick Boyd Angus 436 Roderick Thomas Dransfield & Barbara Marie Dransfield ATF R & B Dransfield Super Fund 437 Rodney James Hart 438 Roman Trzaskowski & Barbara Trzaskowski ATF Barom Nominees Superannuation Fund 439 Ronald Aubrey Bywaters & Kerry Evelyn Goldsmith Bywaters ATF The Bywaters Family Trust 440 Ronald Charles & Teresa Joan Davis ATF Davis Family Superannuation Fund 441 Ronald Francis Chell & Kerry June Chell 442 Ronald Geoffrey Bell & Eileen Julia Bell ATF William Dussin 443 Ronald John Frith 444 Ronald John Hoey & Renee Finn 445 Ronald Kennedy & Linley June Kennedy 446 Ronald Malcolm Douglas 447 Rose Williams 448 Rosetta Pezzimenti 449 Roslyn Sharlene McCallum 450 Rudolf Alexander Zilkens & Bernadette Zilkens ATF Zilkens Superannuation Fund 451 Rudolf Anthony Balk ATF Balk Family Trust 452 Russell & Janet Read ATF The Read Superannuation Fund 453 Saiful Haque & Julie Haque ATF The Freedom Superannuation Fund 454 Shirlena Louey ATF S Louey Superannuation Fund 455 Silvano & Maria Bogotto ITF S & M Bogotto Superannuation Fund 456 Simon Davis 457 Simon J Bell Personal Superannuation 458 Sivert Henderikus Van Der Laan & Wilhelmina Van Der Laan 459 South Tweed Autos Pty Ltd ATF South Tweed Autos Superannuation Fund 460 Stan Schleicher ATF Schleicher Superannuation Fund 461 Stanley Industries Pty Ltd ATF Denmark Super Fund 462 Stanley Suba Voloczi & Susan Voloczi ATF Volco Superannuation Fund 463 Stephen Alan Chaney & Suzanne Joy Chaney 464 Stephen Anthony & Glennis Faye ATF S & G Schindler Super Fund 465 Stephen Brian Grimes & Madeleine Ann Grimes 466 Stephen Donald Schibeci 467 Steven Gregory Williams 468 Steven James Youngs 469 Stewart Darroch Borland & Margaret Borland 470 Stuart Philip & Anne Marie Marks ATF SPJ & AM Marks Family Trust 471 Success Enterprises (WA) Pty Ltd ATF Walters Super Fund 472 Sunrise At Sunset Pty Ltd ATF Humphreys Super Fund 473 Susan Linda Del Fante 474 Suzanne Tracey Evans 475 Syalon Pty Ltd ATF A & J Thompson Family Trust 476 Sylvia Cutajar & Tarcisio Michael Cutajar 477 Tao Shan Lim & Hui Foong Mah 478 Terence Betty & Jennifer Carol Betty 479 Terence O'Sullivan & Judith O'Sullivan ATF O'Sullivan Family Superannuation Fund 480 Teresa Ong 481 Terrence Charles Youngs & Elizabeth Ann Youngs ATF Tecay Superannuation Fund 482 Terrence Michael Blair 483 Terrence Smith, Margaret Smith & Gary Smith ATF Smith Superannuation Fund 484 Terry Noel & Julie Dianne McGill ATF TN & JD McGill Superannuation Fund 485 The Estate of the Late Isabella Newbury 486 The Estate of the Late Reginald Lawrence 487 The K & C Nairn Superannuation Fund 488 Thelma Nova Golding 489 Theresa Ibbott 490 Thomas & Judith Schouten 491 Thomas Daniel & Shirley Daniel ATF T & S Daniel Super Fund 492 Thomas James Fergusson 493 Tick-a-de-boo Pty Ltd ATF Buckels Superannuation Fund 494 Tilpa Pty Ltd ATF Tilpa Pty Ltd Staff Superannuation Fund 495 Timothy Joseph Casey ATF Casey Family Trust 496 Tintagel Pty Ltd ATF The Grant Super Fund 497 Tower Trust Limited ATF The MC Clure Family Superannuation Fund A/C PSF/66694801 498 Tremandra Holdings Pty Ltd ATF Superannuation Fund 499 Tristania Holdings Pty Ltd 500 Trott Nominees Pty Ltd ATF The Trott Family Trust 501 Trudy Smith 502 Undergrashof Pty Ltd ATF Boeswirth Family Trust 503 Undergrashof Pty Ltd ATF Boeswirth Superannuation Fund 504 V & S Cachia Pty Ltd ATF Cachia Superannuation Fund 505 Veronica Mary Kane 506 Veronica Mary Kane & Jerzy Moczynski ATF Vergeo Superannuation Fund 507 Vicki Lee Szyszka 508 Vicki Leigh Ruddell 509 Vicki Rochelle Brown 510 Victor John Garland 511 Victor John Garland & Maria Dalisay Garland 512 Vincent Del Fante 513 Vinric Pty Ltd ATF Villiva Superannuation Fund 514 Vivien Giordmaina 515 Watfam Nominees Pty Ltd ATF The L A Watkins Family Trust 516 Wendy Eleanor Tinsley 517 Wendy Jane Frost and Martin Weare ATF Frost and Weare Superannuation Fund 518 Werome Pty Ltd ATF Jones Family Trust 519 Western Sands Investments Pty Ltd 520 William James Harrison 521 William Stanley Perriman 522 William Stanley Perriman ATF W Perriman Super Fund 523 William Stewart Brisbane and Carmel Mary Brisbane 524 Wilson Stirling 525 Zareh Zeke Kotcharian & Margaret Lesley Kotcharian 526 Zdenka Kathleen McNally
Signed for John Stanley Francis Casey sign here ►
print name in the presence of sign here ► Witness print name
Signed for Paula Grace Casey sign here ►
print name in the presence of sign here ► Witness print name
The Common Seal of the Australian Securities & Investments Commission was duly affixed by its Chairman, Tony D'Aloisio, this day of December 2009 in the presence of: ……………………………….………. --------------------------------------------- Signature of witness Signature of Tony D'Aloisio Chairman of Australian Securities & Investments Commission ……………………………………….. Name of witness
EXECUTED as a deed by State Trustees Limited ACN 064 593 148 in accordance with sub-section 127(1) of the Corporations Act 2001 (Cth): ) ................................................................ ) Anthony George Fitzgerald ) Managing Director ) )
................................................................................. Gayle Lynette Hill Company Secretary
ANNEXURE B TO THE ORDER OF GORDON J OF 26 FEBRUARY 2010 Settlement Scheme Schedule 1 - Settlement Scheme Definitions
Unless otherwise stated, words defined in the Deed have the same meaning in the Settlement Scheme. Unless otherwise stated, references in this schedule to paragraph numbers are references to paragraphs in this schedule. "Administrator": The person nominated by ASIC to be the administrator of the Settlement Scheme.
"Approved Unrecorded Transaction": An Unrecorded Transaction that ASIC is reasonably satisfied occurred and is properly supported by documentary evidence.
"Class Closure Date": The 28th day following:
(i) where no appeal is commenced from the Approval Order in the time provided for an appeal from the Approval Order, the expiration of the period provided for an appeal from the Approval Order; (ii) where an appeal is commenced from the Approval Order in the time provided for an appeal from the Approval Order and the Approval Order is not materially set aside following the Ultimate Determination, the date of the Ultimate Determination; (iii) where a new form of approval order is agreed upon by the Parties pursuant to clause 2(b) of the Deed and made by the Court substantially in the new form so agreed and where no appeal is commenced from that order within the time provided for an appeal from that order, the expiration of the period provided for an appeal from that order; or (iv) where a new form of approval order is agreed upon by the Parties pursuant to clause 2(b) of the Deed and made by the Court substantially in the new form so agreed and an appeal is commenced from that order in the time provided for an appeal from that order, and that order is not materially set-aside following the Ultimate Determination, the date of the Ultimate Determination. "Completion of Administration": 1 year following the date of determination in paragraph 10(a).
"Confirmed Return": A Capital Return that appears:
"Confirmed Transactions Schedule": A schedule which identifies Eligible Claimants who have submitted a Proof of Claim, compiled and updated as provided in paragraphs 5(b) and 0(b).
"Eligible Claimant": A person, other than a person who appears on the Opt-Out Schedule, who holds an Eligible Mezzanine Note and has suffered financial loss as a result.
For the purpose of this definition, where a person has an economic interest in an Eligible Mezzanine Note, and the Eligible Mezzanine Note was acquired or is held by RBC Global Services Australia Nominees Pty Ltd or Netwealth Investments Ltd as custodian, and the discretion to decide to acquire or dispose of the Eligible Mezzanine Note (but not necessarily when to acquire or dispose of the Eligible Mezzanine Note) was and is the person's, that person will be deemed to hold such Eligible Mezzanine Note.
"Eligible Mezzanine Note": A Mezzanine Note, save where an Eligible Rollover Product was issued in respect of a Mezzanine Note in which case it will be the Eligible Rollover Product where no Further Eligible Rollover Product was issued in respect of that Eligible Rollover Product or where one or more than one Further Eligible Rollover Product was issued, the last Further Eligible Rollover Product issued.
"Eligible Rollover Product": A Rollover Product, excluding any part of that Rollover Product that was not issued in lieu of any repayment of capital invested in a Mezzanine Note.
"Face Value": Where the Eligible Claimant holds a Mezzanine Note, the dollar amount of that Mezzanine Note less any amount issued in Mezzanine Note(s) held or previously held in lieu of payment(s) of interest on a Mezzanine Note; or
Where the Eligible Claimant holds an Eligible Rollover Product, the dollar amount of that Eligible Rollover Product; or
Where the Eligible Claimant holds a Further Eligible Rollover Product, the dollar amount of that Further Eligible Rollover Product.
"Further Eligible Rollover Product": A Rollover Product, excluding any part of that Rollover Product that was not issued in lieu of any repayment of capital invested in an Eligible Rollover Product.
"Individual Proportion": The amount to be paid to a Participating Claimant calculated in accordance with the Individual Proportion Formula.
"Individual Proportion Formula": The formula at paragraph 0.
"Ineligible Claimant": A person who submits a Proof of Claim who is not an Eligible Claimant.
"Mezzanine Note": A 'Mezzanine Note' issued by Market Street Mezzanine Ltd (ACN 091 354 513) pursuant to a prospectus dated 20 November 2002, and including any supplementary prospectus issued by Market Street Mezzanine Ltd.
"Opt-out Claimants Schedule": A schedule compiled by the Administrator in accordance with paragraph 5(a) of persons who appear on both the Proof of Claim Schedule and the Opt-out Schedule.
"Opt-out Schedule": The schedule compiled from information made available to the Applicants by the Court identifying persons who opted-out of the Proceeding before 4.00pm on 16 September 2008.
"Participating Claimant": A person who appears in the Confirmed Transactions Schedule.
"Participating Claimants Schedule": A schedule which identifies, by Participating Claimant, the Individual Proportion to be distributed, compiled as provided in paragraph 10. This Schedule must include all details required by the Administrator to facilitate payment in accordance with paragraph 00.
"Proof of Claim": The form that a person is required, in accordance with paragraph 0, to complete and submit to the Administrator in order to participate in the Settlement Scheme.
"Proof of Claim Schedule": A schedule which identifies all persons who have submitted a Proof of Claim by the Class Closure Date.
"Transactions Schedule": A schedule, compiled as provided in paragraph 0, which identifies all Eligible Mezzanine Notes and the identity of each holder of those Eligible Mezzanine Notes, known to ASIC.
"Rollover Product": 1. 'Promissory Note' issued by Bayshore Mezzanine Pty Ltd (ACN ); 2. 'Mezzanine Note' issued by Emu Brewery Mezzanine Ltd(ACN ); 3. 'Promissory Note' issued by Emu Brewery Mezzanine Ltd (ACN ); 4. 'Promissory Note' issued by Market Street Mezzanine No 2 Pty Ltd (ACN ); 5. 'Unsecured Note' issued by North Sydney Finance Ltd (ACN ); 6. 'Unit' in the Westpoint Income Fund; or 7. any other financial product issued by a Westpoint entity. "Terms of Participation": That:
"Unacknowledged Return Schedule": A schedule which identifies each Unacknowledged Return, organised by Group Member, compiled as provided in paragraph 5(c).
"Unrecorded Transaction": An issue or transfer of Eligible Mezzanine Notes that is not recorded as a transaction on the Transactions Schedule, but appears in a Proof of Claim.
"Unrecorded Transactions Schedule": A schedule of Unrecorded Transactions, organised by Group Member, compiled pursuant to paragraph 5(b).
Receipt of the Settlement Sum and payment of costs
Worked Examples
Annexure C TO THE ORDER OF GORDON J OF 26 FEBRUARY 2010 Letter to be sent to group members «Title»«Given_Name»«Surname» «Address_Line_1» «Address_Line_2» «Street» «Locality»«State»«PostCode» Private & Confidential Dear «Title»«Surname» WESTPOINT COLLAPSE: The Australian Securities & Investments Commission's ("ASIC") class action; John Casey & Anor against State Trustees Limited ("State Trustees") Federal Court Proceeding No VID 162 of 2008 (the "Proceeding") 1. This notice relates to a class action (defined above as the Proceeding), arising out of the Westpoint collapse. This notice is sent to you by order of the Hon Justice Gordon made on26 February2010. COURT APPROVAL 2. On 26 February 2010 the Federal Court of Australia approved the settlement of the Proceeding. 3. Under the settlement: a. State Trustees shall pay ASIC $13,500,000 to be distributed amongst eligible group members who lodge a proof of claim; b. The settlement is binding on group members including you and you may take no further action against State Trustees in connection with your Market Street Mezzanine Notes; c. The settlement scheme is being administered by ASIC; and d. The proceeding was dismissed. WHAT YOU NEED TO DO 4. If you wish to make a claim, you will need to complete the following steps: a. Complete the Proof of Claim form enclosed. b. The Proof of Claim must be completed by no later than [70 days after the date of the approval order] ("Closing Date"). If you do not submit your claim by the Closing Date you will not be entitled to participate in the settlement scheme and you will not receive any of the settlement monies. c. Claims will be processed after verification against the information held by ASIC. You will be advised if you have submitted an ineligible claim or if further supporting documents are required. 5. If you have submitted a valid claim it is anticipated that payment will be made approximately 3 months after the Closing Date. 6. If you require further information you should contact Mark White-Robinson of ASIC (03 9280 4629 or mark.white-robinson@asic.gov.au or Christina Klemis of ASIC (03 9280 3575 or christina.klemis@asic.gov.au). LEGAL ADVICE 7. It is advisable that you seek legal advice about the settlement, particularly if you do not understand any part of this document. ASIC is not able to give you legal advice.
Annexure D TO THE ORDER OF GORDON J OF 26 FEBRUARY 2010 Notice for Publication - intended to notify group members of the approval hearing COURT APPROVES SETTLEMENT OF WESTPOINT RELATED CLASS ACTION BETWEEN ASIC AND STATE TRUSTEES LIMITED The Australian Securities & Investments Commission's ("ASIC") class action; John Casey & Anor against State Trustees Limited ("State Trustees") Federal Court Proceeding No VID 162 of 2008 (the "Proceeding") This notice is published pursuant to the order of the Hon Justice Gordon made on 26 February 2010, under the rules of the Federal Court of Australia, which govern the conduct of representative proceedings ("Class Actions") You should read this notice if you have lost money through investing in the failed Westpoint group On 26 February 2010 the Federal Court of Australia approved the settlement of the Proceeding. Under the settlement: · State Trustees shall pay ASIC $13,500,000 to be distributed amongst eligible group members who lodge a proof of claim; · The settlement is binding on group members and group members may take no further action against State Trustees in connection with their Market Street Mezzanine Notes; · The settlement scheme is being administered by ASIC; and · The Proceeding was dismissed. Who is a group member? You may be a group member if you invested in Market Street Mezzanine Notes issued by Market Street Mezzanine Ltd, pursuant to a prospectus, even if you later rolled those notes into other Westpoint products. However, you will not be a group member if you invested only in Market Street Promissory Notes and did not also invest in Market Street Mezzanine Notes. Am I already identified as a group member? ASIC and State Trustees already have the details of many group members. If you believe you are a group member, you should wait to see whether you receive correspondence from ASIC by [insert date]. The correspondence will enclose a proof of claim form which group members must complete and return by [70 days after the date of the approval order] should they wish to participate in the distribution of settlement monies. A copy of the correspondence including the proof of claim form is available on ASIC's website [insert website details]. Group members who do not complete and return the proof of claim form by [insert date] will not be eligible to participate in the distribution of settlement monies. Who do I contact for further information? You should contact Mark White-Robinson of ASIC (03 9280 4629 or mark.white-robinson@asic.gov.au or Christina Klemis of ASIC (03 9280 3575 or christina.klemis@asic.gov.au). Please note that ASIC cannot give you legal advice, and you should seek your own legal advice about the proposed settlement.
REASONS FOR JUDGMENT 1 The events giving rise to this proceeding relate to one aspect of the collapse of the Westpoint group. 2 The Australian Securities and Investments Commission (ASIC), with the consent of the named applicants, commenced this proceeding pursuant to s 50 of the Australian Securities and Investments Commission Act 2001 (Cth) (the ASIC Act). The named applicants are John Stanley Francis Casey and Paula Grace Casey (the Applicants). The respondent is State Trustees Limited (STL). 3 By an Amended Application filed on 28 May 2008, the Applicants claim for themselves and on behalf of group members, damages pursuant to s 283F of the Corporations Act 2001 (Cth) (the Corporations Act) and equitable compensation from STL in respect of alleged causes of action pleaded in the Amended Statement of Claim filed on 28 May 2008 (the ASC). 4 The relationship between the Applicants (and other group members) and STL is not in dispute. In about September 2000, Westpoint Management Limited (WML), in its capacity as trustee for the 60 Market Street Trust (the Trust), acquired land at 60 Market Street, Melbourne (the Property)to develop into a hotel and residential apartments (the Development). WML was a related body corporate of Market Street Mezzanine Limited (Market Street). Between February 2000 and January 2003, Market Street issued six information memoranda seeking to raise funds from investors by way of promissory notes. Market Street on-lent to WML the amount raised by issue of promissory notes and Market Street took a second ranking fixed and floating charge over the assets of the Trust including the Property. 5 On 20 November 2002, Market Street lodged a prospectus with ASIC seeking to raise up to $20 million by way of the issue of mezzanine notes. The Applicants allege that the prospectus contained a number of representations including to the effect that: 1. Market Street was seeking to raise up to $20 million by way of unsecured debt (whether by way of the promissory notes or the mezzanine notes); 2. the trustee of the mezzanine notes was STL; 3. Market Street had to ensure that the aggregate amount of principal outstanding and interest accrued on all mezzanine notes issued under the trust deed did not exceed $21,600,000. 6 STL agreed to act as trustee for the issue of the mezzanine notes in accordance with the requirements of Ch 2L of the Corporations Act and for that purpose, STL and Market Street entered into a trust deed dated 14 November 2002 (the Trust Deed). For present purposes, it is sufficient to note that Annexure C to the Trust Deed contained what was described as the "Last Consolidated Balance Sheet" of Market Street as at 30 June 2002 and which recorded the promissory notes as a non-current liability of $7,818,331. 7 The Applicants allege that from 14 November 2002 (when the Trust Deed was signed) up until and including 28 May 2003 (when the last mezzanine note was issued), Market Street's liability to investors in promissory notes continuously exceeded $20 million. 8 The principal claim by the Applicants is that STL breached s 283DA(a), (b), (c) and / or (e)(i) of the Corporations Act. The Applicants contend that after its appointment as Trustee, and up until the issue of the first mezzanine notes pursuant to the Prospectus, STL inter alia: 1. failed to ascertain from Market Street, and monitor, the amount of liabilities which Market Street had from time to time; 2. failed to exercise reasonable diligence to ascertain whether the property of Market Street that was available would be sufficient to repay the amount deposited or lent by way of Mezzanine Notes when it became due; and 3. failed to exercise reasonable diligence to ascertain whether Market Street had committed any breach of the provisions of the Trust Deed or the Corporations Act. 9 The ASC sought damages and equitable compensation from STL on the basis that if STL had not breached its obligations, then the mezzanine notes would not have been issued at all or, at least, would not have issued without full and proper disclosure of the true position with respect to the amount of unsecured debt that Market Street had already incurred. 10 The proceeding was brought pursuant to Pt IVA of the Federal Court of Australia Act 1976 (Cth) (the FCA). Following a mediation conducted by the Honourable Ian Callinan AC QC, these proceedings as between the Applicants and STL have settled. STL, whilst denying liability, has agreed to pay $13,500,000 to be distributed pro-rata according to the net capital loss (being the amount invested less any capital returns) among those group members who lodge a proof of claim. The settlement is recorded in a Settlement Deed executed on 8 December 2009 (the Settlement Deed). STL remains entitled to pursue its cross-claims against any of the seven nominated cross-respondents in the proceeding: see cl 16.4 of the Settlement Deed. These nominated cross-respondents may be broadly described as financial advisors to one or more of the group members. The nominated cross-respondents do not make any claims against the Applicants and I am informed by Counsel for the Applicants and Counsel for STL that it is unlikely that they will do so. 11 The Settlement Fund to be distributed will comprise the settlement sum together with any interest accrued and credited as at the distribution date. ASIC will determine the claims and each eligible group member's individual proportion of the Settlement Fund. The Applicants' costs and the costs of administration of the Settlement Fund will not be recovered from the Settlement Fund save that ASIC will retain any amount that remains in the Settlement Fund 12 months after a date specified in the Settlement Deed and known as the Distribution Date. At present, if all known potential group members submit a proof of claim, it is estimated that group members will recover at least 71% of the capital they invested in the mezzanine notes after taking into account: 1. monies payable under the proposed settlement; 2. any other settlement payments received; and 3. where a group member rolled over their investment in the mezzanine notes into another Westpoint product, any dividends declared by a liquidator in respect of that Westpoint product. 12 The potential group members are some 526 members: see sch 5 of the Settlement Deed. 13 The Applicants and the group members are estimated to hold $20,184,800 in Market Street mezzanine notes and other Westpoint products issued in lieu of mezzanine notes. The majority of the group members invested $20,000 or less in the mezzanine notes. Although the number of group members is significant, there is no real risk that the total proofs of claim to be submitted will be less than the settlement sum agreed between ASIC and STL. ASIC, through the collective efforts of their officers over the past 14 months, has established contact with and confirmed contact details for approximately 411 of the group members. This accounts for $16,982,100 of the capital invested in mezzanine notes. The effort by ASIC to contact remaining group members is continuing. 14 In support of the application to approve the settlement, an affidavit sworn by Mr Miriklis, Litigation Counsel for ASIC, explained the background to the litigation and the reasons it is thought that the settlement sum is to be regarded as a fair and reasonable compromise of the claims of the group members. Exhibited to his affidavit is advice from Counsel. That advice deals with the prospects of success. Counsel is of the view that the settlement sum is fair, reasonable and adequate in the circumstances. 15 Being actions commenced under Pt IVA of the FCA, the proceedings cannot be compromised without the approval of the Court: s 33V of the FCA. The Applicants and STL seek that approval. 16 The principles that govern approval applications under s 33V of the FCA are well established: see Dorajay Pty Ltd v Aristocrat Leisure Limited [2009] FCA 19 at [10] and [11] and the authorities there cited. Consistent with these principles, I would approve the proposed settlement of these proceedings. The amount each group member will recover is a substantial proportion of the loss. No group member is required to bear any costs. Some group members may have already, or will in the future, recoup some of their losses from other sources including other litigation initiated by ASIC against others concerned with the collapse of the Westpoint group. The litigation is being settled at a relatively early stage thereby avoiding significant costs and uncertainties and without the need for an examination of the particular facts and circumstances in which each group member invested in the mezzanine notes. 17 For these reasons, there will be orders approving the settlement in accordance with the terms of the Settlement Deed dated 8 December 2009 and ancillary orders. I certify that the preceding seventeen (17) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Gordon.
Casey
State Trustees Limited