Global law firm Ashurst has advised Mercy Super on its merger with HESTA.
As part of this transaction, declarations have successfully been sought from the Queensland Supreme Court.
Ashurst advised Mercy Super on the requisite regulatory requirements and assisted with the review of data room materials, the formation of a project transition plan and the negotiation of material contracts. The litigation in this matter involved parallel applications by Mercy Super and HESTA, which joined the attorneys general for Queensland and Victoria and APRA as an amicus curiae.
The transaction also involved the establishment of a Brisbane office for HESTA.
Partner Scott Charaneka commented:
“We are very pleased to have acted for Mercy Super in this important matter, which also assisted the superannuation industry in its understanding of whether State based secret commission laws can apply to successor fund transfers.”
The Ashurst team in this matter was led by Scott Charaneka, who was assisted by partner Nicholas Mavrakis, counsel Edmond Park, and associates Olivia Duce and Ashley Zhang. Ashurst instructed Dominique Hogan-Doran SC and Trent Glover.
