Real estate asset manager Dexus has won access to advice given by the lawyers of two shareholders of airport operator APAC over an alleged breach of a shareholder deed.
Dexus has claimed legal professional privilege prevents fellow owners of airport operator APAC from accessing tens of thousands of documents as they prepare for trial over an alleged breach of a shareholder deed.
The trustee for shareholders that want to retain their Dexus-managed stake in Australia Pacific Airports Corporation can’t be separately represented from the selling group, a judge has ruled in a case that pits APAC’s investors against each other.
Real estate asset manager Dexus wants information that the Asia Pacific Airport Corporation gave to several consultants in a court battle over allegations it breached a shareholder deed in selling a stake in the airport operator.
Real estate asset manager Dexus will cover the legal costs of shareholders whose stake in Australia Pacific Airports Corporation hangs in the balance, as it reveals a $55 million book value increase.
The date has been set for a court battle over Dexus’ sale of shares in Asia Pacific Airport Corporation, a fight the operator of Melbourne and Launceston airports says needs 10 hearing days.
Dexus’ denial of a breach of confidentiality in a battle with co-owners of airport operator APAC is unlikely to hold up, a judge has said, and what appears to have been done can’t be undone. What the high-stakes row will come down to, he says, is materiality.
ANZ is facing proceedings by a shareholder who wants the bank to turn over documents related to its risk management systems in response to concerns it is increasing loans to fossil fuel companies and failing to properly address climate change risks.
Real estate investment trust NorthWest can amend its pleadings in a lawsuit alleging one of the country’s largest unlisted healthcare property funds conspired to prevent it from acquiring a controlling stake, but has come up short in its bid to add to its claims against property giant Dexus.
A judge has thrown out the portion of a lawsuit brought by an ANZ trader who was sacked in 2015 that was brought under enhanced whistleblower protections that took effect in 2019, saying the civil remedy provisions do not apply retrospectively.