WELLINGTON CAPITAL IN BID TO SAVE FUND
Written on the 22 June 2011
WELLINGTON Capital, headed by Brisbane lawyer Jenny Hutson (pictured) is pulling out all stops to stop a planned investor meeting in Sydney which could cost the company control of a $250 million fund.
An application made by Wellington Capital in the Brisbane Federal Court seeks declaration the notice of meeting is ‘invalid’ and an order restraining a breakaway group of unit holders in the company from attending the gathering.
Critics of the move by the premium income fund (PIF) company say the legal challenge is a desperate bid to stop voting.
Hutson recently filed an affidavit regarding a series of irregularities involving Computershare as the proxy vote collector.
Huston also claims powers of attorney could have been used improperly to lodge proxy votes and that no notice of the fact has been lodged with the National Stock Exchange.
Huston is chair of the ASX-listed G8 Education, which is targeting childcare property acquisitions in Australia and Singapore.