find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Senior family lawyer - Melbourne
Category: Family Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Outstanding national firm · High-calibre family law team
View details
Minter Ellison advises on Tassie MyState merger

Minter Ellison advises on Tassie MyState merger

Minter Ellison has advised on the creation MyState Limited, the result of a merger between MyState Financial Credit Union of Tasmania Limited and Tasmanian Perpetual Trustees Limited. The listed…

Minter Ellison has advised on the creation MyState Limited, the result of a merger between MyState Financial Credit Union of Tasmania Limited and Tasmanian Perpetual Trustees Limited. The listed entity has a market capitalisation of over $200 million, making it one of Tasmania's largest public companies.

Minters advised on all aspects of the complex transaction, including the demutualisation of MyState Financial, Tasmania's largest credit union and one of its leading ADIs and the merger of MyState Financial and Tasmanian Perpetual Trustees under an APRA-regulated Non-Operating Holding Company.

Legislative amendments to the Tasmanian Trustee Companies Act were required to facilitate the transaction, along with amendment of the approvals, relief, waivers or rulings by various regulators/Government bodies, including APRA, ACCC, ASIC, ASX, the Federal Treasury, the Tasmanian Attorney-General and the Tasmanian Revenue Office

The transaction has received approval from the Tasmanian Supreme Court.

Key Players:

Partner Jeremy Blackshaw Partner Tony Dhar

Minter Ellison represented MyState Financial on all aspects of the transaction, and also represented Tasmanian Perpetual Trustees in relation to the numerous regulatory approvals required. The lead partners were Tony Dhar (partner, Melbourne); Jeremy Blackshaw (partner, Melbourne)

Both MyState Financial Credit Union of Tasmania Limited and Tasmanian Perpetual Trustees Limited engaged local counsel to represent them in the Tasmanian court proceedings to approve the dual schemes of arrangement.

Dobson Mitchell Allport acted as Tasmanian counsel for Tasmanian Perpetual Trustees Ltd.

Abetz Curtis acted as Tasmanian counsel for MyState Financial.

Commentary:

"This complex transaction involved a demutualisation, merger, share issue and ASX listing, " lead partner Tony Dhar commented.

"Shares in MyState Limited were issued to more than 100,000 Tasmanians as a result of the demutualisation. That means that approximately 1 in 3 households in Tasmania received an allocation and now are shareholders in one of Tasmania's largest public companies.

"The team at Minter Ellison worked on this complex assignment for almost 18 months, and there was a real sense of achievement when the schemes of arrangement were finally implemented."

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Minter Ellison advises on Tassie MyState merger
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...