Reidy as Court appointed Trustee [2021] NSWSC 836

Supreme Court New South Wales

Medium Neutral Citation: Reidy as Court appointed Trustee [2021] NSWSC 836 Hearing dates: 13 July 2021 Decision date: 13 July 2021 Jurisdiction: Equity Before: Ward CJ in Eq Decision: 1. Pursuant to Rule 36.17 of the Uniform Civil Procedure Rules, vary the order made by the court on 27 July 2006 in the Earthwise proceedings, being proceedings number 1604 of 2002, to direct that the plaintiff distribute to Naoki Takahashi the amount of $131,797.86. 2. Advise, pursuant to section 63 of the Trustee Act, that the plaintiff would be justified in distributing from the residue of the fund which was the subject of declaration 2 and direction 3 made by the court on 4 October 2005 in the Earthwise proceedings the following amounts: (a) The sum of $131,797.86 to Naoki Takahashi; (b) An amount payable to counsel for counsel's reasonable fees in respect of his brief in these proceedings; (c) Reimbursements of disbursements paid by Rodgers Reidy and Baker & McKenzie in the amounts of $17,596.86 and $673.51 respectively; (d) Court fees and other disbursements related to and incidental to these proceedings incurred from and including the date of filing of the summons on 15 June 2021; and (e) The balance of the fund to Rodgers Reidy and to Baker & McKenzie in such proportions as Rodgers Reidy and Baker & McKenzie may agree in respect of their costs and expenses in dealing with the fund and providing advice in relation thereto. (3) Direct pursuant to section 63 of the Trustee Act that notice is not required to be given to any person other than to Naoki Takahashi, Kunihiko Yogo and Katsumi Matsuzawa of the orders of the Court prior to making any distribution as contemplated by order 2 above. Catchwords: SUCCESSION — Trusts and trustees — Judicial advice, Trustee Act 1925 (NSW), s 63 — Benjamin order Legislation Cited: Trustee Act 1925 (NSW) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: Application by NSW Trustee and Guardian (Estate of the late Marco Sijakovic) [2012] NSWSC 1532 Application by NSW Trustee and Guardian re Mountain [2018] NSWSC 419 Application of Harnett and Cutts [2016] NSWSC 427 Newmont Yandal Operations Pty Ltd v J Aron Corporation & Goldman Sachs Group Inc (2007) 70 NSWLR 411; [2007] NSWCA 195 NSW Trustee and Guardian (Estate of Peter Urso) [2013] NSWSC 903 Westpac Banking Corporation v Earthwise International Limited & Ors [2005] NSWSC 1037 Category: Consequential orders Parties: Geoffrey Reidy (Plaintiff) Representation: Counsel: N Furlan (Plaintiff)