Future Fund, AustralianSuper set for court case: report

Investors AustralianSuper and the Future Fund will appear in the Victorian Supreme Court next month in a dispute over ownership of Perth Airport, The Australian Financial Review reports.

According to the newspaper, the Future Fund declined voluntarily to provide documents the superannuation fund says will help it make a decision about whether to sue the Future Fund for its $875 million purchase of a 30 per cent stake in Perth airport.

AustralianSuper seeks management papers, board minutes, the implementation agreement between the Future Fund and seller of the stake Australian Infrastructure Fund, and all documents showing how the Future Fund considered the pre-emptive rights in allocating the purchase price to the assets, the AFR reports.

AustralianSuper had hoped to exercise its pre-emptive rights over the airport to lift its stake, according to the AFR.