Cihan v Cihan [2022] NSWSC 538

Supreme Court New South Wales

Medium Neutral Citation: Cihan v Cihan [2022] NSWSC 538 Hearing dates: 29, 30 November; 1, 2 December 2021; written submissions ending 18 December 2021 Date of orders: 5 May 2022 Decision date: 05 May 2022 Jurisdiction: Equity Before: Parker J Decision: See [166]-[168] Catchwords: TRUSTS – powers of trustee – discretionary trust – nominator having power to replace trustee – trustee purports to amend trust deed by changing identity of nominator – whether permissible – tripartite deed not signed by nominator – whether effective EQUITY – powers of appointment – nominator's power to replace trustee – whether purported exercise involved fraud on the power – whether appointment effective before notification to existing trustee – replacement of existing trustee without bank consent would have been event of default – whether deed of appointment escrowed Legislation Cited: Trustee Act 1925, ss 6, 8, 9, 59 Cases Cited: Baba v Sheehan [2021] NSWCA 58 Cachia v Westpac Financial Services Ltd [2000] FCA 161 Jenkins v Ellett [2007] QSC 154 Kearns v Hill (1990) 21 NSWLR 107 Lewis v Condon (2013) 85 NSWLR 99 Mercanti v Mercanti (2016) 50 WAR 495 Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 Perry v Nicholson [2017] QSC 163 Category: Principal judgment Parties: Mehmet Cihan (Plaintiff) Kadir Cihan (First Defendant) Cihan Property Pty Limited (Second Defendant) Representation: Counsel: C Harris SC (Plaintiff) D McLure SC/G O'Mahoney (Defendants)