Schneider Re Estate Blashild [2009] NSWSC 566

New South Wales Supreme Court

CITATION : Schneider Re Estate Blashild [2009] NSWSC 566

HEARING DATE(S) : 3 June 2009

JUDGMENT DATE : 19 June 2009

JURISDICTION : Equity Division

JUDGMENT OF : Ward J

DECISION : Advice given that executors would be justified in making interim distribution of half of legacies subject to provision of undertakings by legatees.

CATCHWORDS : EQUITY – trusts and trustees – applications to the court for advice and authority – whether executors would be justified in making interim distribution of half of legacies – substantial estate – executors engaged in potentially lengthy and costly litigation in Israel – unknown potential additional costs in realising and administering estate – consideration of duties of executors to consider and to make interim distributions – consideration of undertakings, indemnities or security which might be provided by legatees – held that executors would be justified in making interim distribution of half of legacies, subject to provision of undertakings by legatees.

Foreign Judgments Regulations 1991 (Cth) LEGISLATION CITED : Probate & Administration Act 1898 Trustee Act 1925

CATEGORY : Procedural and other rulings

Blackman v Permanent Trustee Co Limited [2003] NSWSC 305 Bullas v Public Trustee [1981] 1 NSWLR 641 Frey v Demarset 16 New Jersey Equity 236 Gonzales v Claridades [2003] NSWSC 508 CASES CITED : Macedonian Orthodox Community Church St Petka Incorporated v His Eminence Petar The Diocesan Bishop of the Macedonian Orthodox Diocese of Australia and New Zealand (2008) 249 ALR 250 Re Akerman [1891] 3 Ch 212 Re Ralphs; Ralphs v District Bank Ltd [1968] 1 WLR 1522 Re Yorke (deceased): Stone v Chataway [1997] 4 All ER 907 Thomson Australian Holdings Pty Limited v Trade Practices Commission and Others (1981) 148 clr 150