Australian Pipeline Ltd ACN 091 344 704 v Alinta Ltd ACN 087 857 001

Australian Pipeline Ltd ACN 091 344 704 has brought a proceeding against Alinta Ltd ACN 087 857 001 and several other defendants regarding the ownership and distribution of units in Australian Pipeline Trust and APT Investment Trust. The primary dispute is over the ownership of 42,197,222 units in Australian Pipeline Trust held by the second defendant, Trewas, and the corresponding units in Australian Pipeline Investment Trust. The case was heard by the Federal Court of Australia.

The court had to determine whether certain defendants were bound by undertakings made to the Court in 2007 and whether those undertakings should be enforced. Additionally, the court had to decide on the appropriate distribution or sale of the disputed units in Australian Pipeline Trust and Australian Pipeline Investment Trust to the shareholders of Alinta, or to other purchasers through a bookbuild process, ensuring compliance with relevant laws and regulations.

The court found that the first, second, fourth, and fifth defendants were not bound by the 2007 undertakings. It also ruled that the second defendant and the fourth defendant must ensure that the disputed units are either distributed to Alinta shareholders or sold through a bookbuild process. The court did not order any party to pay costs.

The court dismissed the proceeding against the other defendants and did not make any order regarding costs. The court ordered that the second and fourth defendants must ensure that the specified units are either distributed to Alinta shareholders or sold through a bookbuild process by 14 December 2007. The court also released the first, second, fourth, and fifth defendants from the undertakings given to the Court in 2007.