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Future Fund accused of withholding docs in airport spat
Tuesday, 27 August 2013 4:35pm

AustralianSuper has upped the ante in its dispute over the Future Fund's purchase of a stake in Perth airport, accusing the $80 billion sovereign wealth fund of withholding crucial documents.

AustralianSuper said it had requested documentation from the Future Fund in relation to the allocation of the purchase price of the airport assets from the Australian Infrastructure Fund (AIX) and is pursuing this matter in the best interest of its two million members.

"These documents are being sought so that we can determine whether to pursue a claim arising from the sale of the AIX assets," said an AustralianSuper press release.

"The Future Fund has refused to provide these documents.

"Accordingly AustralianSuper has brought an application seeking pre-trial discovery of the documents in the Victorian Supreme Court."

Earlier today, the Future Fund issued a statement denying any wrongdoing in relation to its acquisition of a $2 billion stake in Perth Airport Development Group form AIX and would oppose a preliminary discovery application from the nation's largest industry superannuation fund.

The Future Fund is alleged to have breached a shareholders' agreement and depriving AustralianSuper of its rights to increase its stake in Perth airport.

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