Aurora Absolute Return Fund - Panel Declines to Make Declaration [12/07/2019] The Takeovers Panel

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TP19/41
Friday, 12 July 2019

Aurora Absolute Return Fund - Panel Declines to Make Declaration

The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 18 June 2019 from Aurora Funds Management Limited in relation to the affairs of the Aurora Absolute Return Fund.

The application concerned (among other things) allegations that a number of persons were associated by reasons of entering into relevant agreements in relation to the acquisition of units in ABW and a proposal to replace Aurora as responsible entity of ABW (see TP19/37).

The Panel conducted proceedings but decided not to make a declaration of unacceptable circumstances. The Panel did not consider that there was sufficient material to establish that the alleged associations had been formed or that it was in the public interest to make a declaration of unacceptable circumstances.

On the basis of the above, the Panel decided not to make a declaration of unacceptable circumstances.

As the proceedings have concluded, the interim orders made on 26 June 2019 (see TP18/38) are now at an end.

The sitting Panel was Stephanie Charles, John O'Sullivan (sitting President) and Nicola Wakefield Evans. The Panel will publish its reasons for the decision in due course on the Takeovers website.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3500
takeovers@takeovers.gov.au