NSW Caselaw
New South Wales Supreme Court
CITATION : Simpson v Trust Company Fiduciary Services Limited [2009] NSWSC 912
HEARING DATE(S) : 28 August 2009
JUDGMENT DATE : 2 September 2009
JURISDICTION : Equity Division
JUDGMENT OF : Ward J
DECISION : Distribution ordered.
CATCHWORDS : EQUITY – trusts and trustees – whether trust terminated by plaintiff beneficiaries pursuant to rule in Saunders v Vautier – if trust not terminated, whether trustee would be justified in distributing all of the assets of the trust to the plaintiffs – held that plaintiff beneficiaries did not have a vested interest in the trust property – held that trust had not been terminated as class of beneficiaries not closed – possibility of further beneficiaries remote – trustee justified in distributing assets to plaintiffs on their undertaking to account if further beneficiaries come into existence.
LEGISLATION CITED : Family Provision Act 1982 Uniform Civil Procedure Rules 2005
CATEGORY : Principal judgment
Austin v Wells [2008] NSWSC 1266 Bullas v Public Trustee [1981] 1 NSWLR 641 Fell v Fell (1922) 31 CLR 268 Gonzales v Claridades 58 NSWLR 188 Jenkins v Stewart (1906) 3 CLR 799 CASES CITED : Macrae v Walsh [1927] 27 SRNSW 290 Re Blackwell [1926] Ch 223 Re Butler [1980] QdR 601 Re Francis [1905] 2 Ch 223 Saunders v Vautier (1841) 4 Beav 115; 49 ER 282 Wilcox v Poole [1974] 2 NSWLR 693
TEXTS CITED : Daniell's Chancery Practice 8th Ed Parry & Clarke on the Law of Succession 10th ed
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