Stein v Sybmore Holdings [2006] NSWSC 1004

New South Wales Supreme Court

CITATION : Stein v Sybmore Holdings [2006] NSWSC 1004

HEARING DATE(S) : 19 September 2006

JUDGMENT DATE : 27 September 2006

JURISDICTION : Equity

JUDGMENT OF : Campbell J

DECISION : Order empowering trustee to amend trust deed to extend vesting date made.

CATCHWORDS : TRUSTS -- discretionary trusts -- nature of rights of property in -- TRUSTS -- power of court to approve advantageous dealings -- whether ever able to be used in a way which alters beneficial interests -- whether applicable to amendment of the Trust Deed -- whether power able to be used to extend vesting date of discretionary trust -- syntactic structure of section 81 Trustee Act 1925 (NSW) -- consideration of elements of section 81 Trustee Act 1925 (NSW) -- WORDS AND PHRASES – "expedient"

Income Tax Assessment Act 1936 LEGISLATION CITED : Trustee Act 1925 Trustee Act 1925 (Eng)

Re AS Sykes (dec'd) and the Trustee Act [1974] 1 NSWLR 597 Arakella Pty Ltd v Paton (2004) 60 NSWLR 334 Audio Visual Copyright Society Ltd v Australian Record Industry Association Ltd [1999] NSWSC 947; (1999) 152 FLR 142 Re Bowmil Nominees Pty Ltd (as trustee of the Williamson Superannuation Fund) [2004] NSWSC 161 Commissioner of Stamp Duties (NSW) v Carlenka Pty Ltd (1995) 41 NSWLR 329 Re Cosaf Pty Ltd (Supreme Court of NSW, Young J, 18 December 1992, unreported) CASES CITED : Re Craven's Estate [1937] Ch 431 Hartigan Nominees Pty Ltd v Rydge (1992) 29 NSWLR 405 Re Jay-O-Bees Pty Ltd (in liq); Rosseau Pty Ltd (in liq) v Jay-O-Bees Pty Ltd (in liq) [2004] NSWSC 818; (2004) 50 ACSR 565 Ku-Ring-Gai Municipal Council v The Attorney-General (1954) 55 SR (NSW) 65 James N Kirby Foundation v Attorney General (NSW) (2004) 213 ALR 366 NM Superannuation Pty Ltd v Hughes (Supreme Court of NSW, 5 March 1996, unreported, BC 9600423) Re Philips New Zealand Ltd [1997] 1 NZLR 93 Riddle v Riddle (1952) 85 CLR 202