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Sovereign Wealth Funds Briefing - Categorized | Market

Future Fund denies wrongdoing in Perth Airport deal

Posted on 27 August 2013

The Future Fund will oppose a preliminary discovery application lodged by AustralianSuper, denying any liability for the damages incurred by Australia’s largest super fund during its acquisition of a shareholding in Perth Airport Development group.
In February the $60 billion AustralianSuper threatened legal action against the $85 billion sovereign wealth fund. The Future Fund is alleged to have breached a shareholders’ agreement in its $2 billion purchase of a stake in Perth airport from Australian Infrastructure Fund (AIX). AustralianSuper is seeking damages — thought to be in the region of $100 million………………………………………..Full Article: Source


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