These are our reasons for declining to make a declaration of unacceptable circumstances in response to an application under section 657C of the Corporations Act by Pondale Properties Pty Limited (Application). The Application was for a declaration of unacceptable circumstances in connection with the acquisition by CHAMP SPV Pty Limited and its related entities (CHAMP Group) of a relevant interest of approximately 81% in the share capital in Austar United Communications Limited (Austar).

These are our reasons for declining to revoke or vary the orders made by the AMP Centro 01 Panel, directing AMP Life (and other Co-Owners) not to exercise any Pre-Emptive Rights in relation to shopping centres part owned by ART merely because the Responsible Entity of ART is replaced following a takeover under Chapter 6 of the Corporations Act. We did not accept that the Panel was constitutionally prohibited from making the orders, that the Panel did not have the power to affect AMP Life's property rights, or that the orders unfairly prejudiced AMP Life or other Co-Owners.

These are our reasons for making a declaration of unacceptable circumstances in relation to the affairs of Cobra Resources Limited (Cobra) in response to an application under section 657C of the Corporations Act (Act) by the Australian Securities and Investments Commission (Application). The Application was made in connection with an announcement by Mr Terry Stephens of his intention to make a takeover bid for all the shares in Cobra.