Appeared for trustee, instructed by Dentons.
Successful application for judicial advice.
EQUITY — Trusts and trustees — Judicial advice under s 63 of the Trustee Act 1925 (NSW) — Whether trustee may insert amendments to trust deed of superannuation fund to give power to charge fee — Where capital reserve sought to enable trustee to meet potential liabilities from recent changes to regulatory environment
Also acted in relation to regulatory investigations by the Australian Securities and Investments Commission and the Australian Prudential Regulation Authorities, instructed by Dentons.
Judgment:
Re Energy Industries Superannuation Scheme Pty Limited as trustee of the Energy Industries Superannuation Scheme Pool A and Pool B (trading as EISS Super) [2022] NSWSC 1202 (Ball J)
Media coverage:
Troubled EISS in advanced talks with Cbus to create $70b super giant (Sydney Morning Herald, 19 November 2021)
Super fund wants to dip into members’ savings to pay fines (Australian Financial Review, 26 August 2022)
Cbus Super and EISS Super complete merger (Investment Magazine, 16 May 2023)