Michael Victor Henley; In the Estate of Hedy Jadwiga Weinstock and Leo Arie Weinstock [2013] NSWSC 975

Supreme Court New South Wales

Medium Neutral Citation: Michael Victor Henley; In the Estate of Hedy Jadwiga Weinstock and Leo Arie Weinstock [2013] NSWSC 975 Hearing dates: 7 & 8 November 2012 Decision date: 22 July 2013 Jurisdiction: Equity Division Before: Slattery J Decision: Trustee advised that he is entitled to distribute the "A" and "B" class shares to the son of the testator, Amiram Weinstock. Directions made in relation to submissions on costs. Order for mediation under Civil Procedure Act 2005 s 26 proposed. Catchwords: TRUSTS - trusts and trustees - judicial advice under Trustee Act 1925 s 63 - rule in Saunders v Vautier (1841) Cr & Ph 240; 41 ER 482 - trustee under a will holds part of the "A" and "B" class shares in a proprietary company for two beneficiaries (the son and daughter of the testator) as tenants in common - the son gives a Saunders v Vautier direction to the trustee for the distribution of his aliquot share of the capital - whether the son has an absolute, vested and indefeasible interest in the capital and income of the "A" and "B" class shares - whether any "special circumstances" displace the operation of the rule allowing the trustee not to comply with the direction. Legislation Cited: Civil Procedure Act 2005, s 26 Companies Act 1961, Fourth Schedule Conveyancing Act 1919, s 66G Corporations Act 2001, s 1322(4)(a) Trustee Act 1925, s 46, s 63(11) Cases Cited: Australian Olympic Committee Inc v Big Fights Inc (No 2) [2000] FCA 785 Australian Olympic Committee Inc v Big Fights Inc [1999] FCA 1042 Beck v Weinstock [2011] NSWSC 1195 Beck v Weinstock [2012] NSWCA 289 Booth v Ellard [1980] 1 WLR 1443, [1980] 3 All ER 569 Commissioner of Stamp Duties v Livingston (1965) 112 CLR 12 CPT Custodian Pty Ltd v Commissioner of State Revenue (2005) 224 CLR 98 Crowe v Appleby [1975] 1 WLR 1539 Don King Productions Inc. v Warren [2000] Ch 291 Feeney v Feeney [2008] NSWSC 890 Goulding v James (1997) 2 All ER 239 Holding & Management Ltd v Property Holding & Investment Trust plc [1990] 1 All ER 938; [1989] 1 WLR 1313 Hyman v Permanent Trustee Co of New South Wales Ltd (1914) 14 SR (NSW) 348 In Re Horsnaill (1909) 1 Ch 631 In Re Marshall (1914) 1 Ch 192 In re Tweedie & Miles (1884) 27 Ch D 315 Lloyds Bank Limited v Duker [1987] 1 WLR 1324 Macedonian Orthodox Community Church Petka Inc v His Eminence Petar, The Diocesan Bishop of The Macedonian Orthodox Diocese of Australia and New Zealand [2008] HCA 42; (2008) 237 CLR 66 Manfred v Maddrell (1950) 51 SR (NSW) 95 Miller's Trustees v Miller (1890) 18 R 301 Mortgage Fighting Fund Trust v Commissioner of Taxation (2000) 102 FCR 15, [2000] FCA 981 Official Receiver v Schultz (1990) 170 CLR 306 Quinton v Proctor [1998] 4 VR 469 Re Brockbank [1948] Ch 206 Re Kipping [1914] 1 Ch 62 Re Marshall [1914] 1 Ch 192 Re Sandeman's Will Trusts [1937] 1 All ER 368 Re Smith (1928) Ch 915 Re Weiner [1956] 1 WLR 579 Saunders v Vautier (1841) Cr & Ph 240; 41 ER 482 Shalton v King (1913) 229 US 90 Stephenson (Inspector of Taxes) v Barclays Bank Trust Co Ltd [1975] 1 WLR 882 Weatherall v Thornburgh (1878) 8 Ch D 261 Weinstock v Beck [2011] NSWCA 228 Weinstock v Beck [2013] HCA 14 Whakatane Paper Mills v Public Trustee (1939) 39 SR (NSW) 426 Wharton & Warwick v Masterman [1895] AC 186 Wright v Gibbons (1949) 78 CLR 313 Texts Cited: A Butler (editor), Equity and Trust in New Zealand, 2nd edition, Thompson Reuters, Wellington 2009 Scott and Ascher, The Law of Trusts, 5th edition, volume 5 Category: Principal judgment Parties: Plaintiff:- Michael Victor Henley Amiram Weinstock Tamar Rivqa Beck Representation: Counsel: Plaintiff: B. A. Coles QC; S. Robertson I. Jackman SC; J. Hmelnitsky for Ami Weinstock R.McHugh SC/G. Colyer for Tami Beck Solicitors: Plaintiff: Ronald Kenneth Heinrich, TressCox Lawyers Heather Sandell, Baker & McKenzie Andrew Joseph James Lacy, McCabe Terrill Lawyers Pty Ltd File Number(s): 2012/75034 Publication restriction: No