Ansett Australia Ground Staff Superannuation Plan Pty Ltd v Ansett Australia Ltd

The Ansett Australia Ground Staff Superannuation Plan Pty Ltd sought a direction from the Court to approve the terms of settlement reached between the Trustee and the administrators of Ansett Australia Limited. The dispute involved the distribution of the remaining assets of the Ansett Australia Ground Staff Superannuation Plan, which covered around 8,000 employees. The Trustee argued that the distribution plan was fair and had been devised with the advice of an experienced actuary. However, the administrators of Ansett Australia Limited opposed the distribution plan. The legal issues before the Court included whether the Court had the power to direct the administrators to approve the terms of settlement and whether the Trustee had the power to perform and give effect to the terms of settlement.

The Court found that it had the power to give the direction sought by the Trustee. The Court noted that the distribution plan appeared to have been devised on fair consideration of the interests of members and there was no suggestion of a lack of good faith or ulterior purpose. The Court also found that the administrators had the power to approve the terms of settlement and that the Trustee had the power to perform and give effect to the terms of settlement. The Court approved the distribution of the assets of the Ansett Australia Ground Staff Superannuation Plan in accordance with the advice of the actuary.

The Court made several orders, including approving the terms of settlement, varying the deed of company arrangement, approving the distribution of the assets of the Ansett Australia Ground Staff Superannuation Plan, and dismissing the proceeding and cross-claim with no order as to costs. The Court also made an order that the proceeding and the cross-claim be dismissed with no order as to costs.