The Takeovers Panel has today been served with a second Federal Court application, also dated 2 August 2011, for judicial review of its decision to accept undertakings in Bentley Capital Limited 01R.

The Takeovers Panel has been served with a Federal Court application dated 2 August 2011 for judicial review of its decision to accept undertakings in Bentley Capital Limited 01R. The application for judicial review is by Mrs Ambreen Chaudhri/Data Base Systems Limited and is made under section 5 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and section 39B(1A) of the Judiciary Act 1903 (Cth).

The Panel today published the reasons for its decision on an application dated 10 June 2011 from Mariner Corporation Limited in relation to the affairs of Viento Group Limited.

The review Panel today published the reasons for its decision on an application dated 24 May 2011 by Bellwether Investments Pty Ltd and Mr Jim Craig in relation to the affairs of Bentley.

The review Panel has accepted undertakings from the Chairman of Bentley Capital Limited, Mr Farooq Khan, and Database Systems Limited (DBS) and Mrs Ambreen Chaudhri (see annexures A and B) and has declined to make a declaration of unacceptable circumstances in response to an application dated 24 May 2011 by Bellwether Investments Pty Ltd and Mr Jim Craig in relation to the affairs of Bentley.

The Panel has declined to make a declaration of unacceptable circumstances in response to an application dated 10 June 2011 from Mariner Corporation Limited. (see TP11/50).

The Panel has received an application from Mariner Corporation Limited in relation to the affairs of Viento Group Limited. On 29 April 2011, Mariner acquired Viento shares vested in ASIC by the Panel in Viento Group Limited [2011] ATP 1 (see TP11/09). On 4 May 2011, Mariner requisitioned a meeting of Viento shareholders to replace directors.

The Panel today published the reasons for its decision on an application dated 11 May 2011 from Wellington Capital Limited as responsible entity for the Premium Income Fund (PIF) in relation to the affairs of PIF.