The Court has granted the key orders sought in the Trustee’s Petition.
The court opinion brings to an end a long period of uncertainty and means the Trustee can move forward in pursuing unpaid employer debts, deal with any litigation that arises in connection with section 75 matters and continue to manage the Scheme to make sure members receive the benefits to which they are entitled.
The Court opinion clearly states that (1) the Court does not consider the Trustee’s prior conduct to amount to either wilful wrongdoing or gross negligence and (2) that the Trustee is entitled to the indemnity in the Scheme rules.
The opinion also refers to various comments made by the Court Reporter including that: “those now involved with the Scheme have done their best to ensure that it has been properly administered in a manner consistent with the relevant legislation and in doing so they have displayed proper standards of care and diligence in administering the Scheme’s affairs.”
We will continue to engage with employers on an individual basis if they have any concerns in relation to section 75 matters or if they would like to discuss any of the easements currently permitted by the section 75 legislation.