In the matter of Cupit & Aboud as trustees of the Australian Trust [2020] NSWSC 1715

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Cupit & Aboud as trustees of the Australian Trust [2020] NSWSC 1715 Hearing dates: 23 November 2020 Decision date: 23 November 2020 Jurisdiction: Equity Before: Ward CJ in Eq Decision: 1. Pursuant to order 1(v) of orders of Lindsay J made on 26 June 2018, order that the Australian Trust be terminated on and effective from 30 December 2020. 2. Pursuant to r 54.3 of the Uniform Civil Procedure Rules 2005 (NSW), direct the Plaintiffs, as trustees of the Australian Trust, to transfer the assets in the Australian Trust to Rosa Charlotte Sophia Rodriguez Grieve on and effective from 30 December 2020. 3. Pursuant to s 71 of the Trustee Act 1925 (NSW), order that the assets in the Australian Trust vest in Rosa Charlotte Sophia Rodriguez Grieve on and effective from 30 December 2020. 4. Order that the Plaintiffs' costs be paid out of the assets of the Australian Trust. Catchwords: EQUITY — Trusts and trustees — Judicial advice Legislation Cited: Income Tax Assessment Act 1997 (Cth) Land Tax Management Act 1956 (NSW), ss 3, 7, 8, 9, 9AA, 10AA, 25 Trustee Act 1925 (NSW), ss 63, 71, 81 Uniform Civil Procedure Rules 2005 (NSW), r 54.3 Cases Cited: JKB Holdings Pty Limited v de la Vega [2013] NSWSC 01 Re Gaydon [2001] NSWSC 473 Soo v Soo [2016] NSWSC 1666 Westfield QLD No 1 Pty Limited v Lend Lease Real Estate Investments Limited [2008] NSWSC 516 Texts Cited: Ford and Lee, The Law of Trusts (4th ed, 2001, Thomson Reuters) Category: Principal judgment Parties: Charles Gordon Cupit & Lucinda Maree Aboud in their capacity as trustees of the Australian Trust (Plaintiffs) Representation: Counsel: M Meek SC with P Muscat (Plaintiffs)