Re Dion Investments Pty Ltd [2013] NSWSC 1941

Supreme Court New South Wales

Medium Neutral Citation: Re Dion Investments Pty Ltd [2013] NSWSC 1941 Hearing dates: 28 October 2013 and 10 December 2013 Decision date: 20 December 2013 Jurisdiction: Equity Division Before: Young AJ Decision: Judicial advice given. See paragraph [66]. Catchwords: TRUSTS - Settlement made in Port Moresby - All beneficiaries in NSW - What is proper law of trust - If PNG what jurisdiction has NSW Supreme Court to make orders affecting the trust

TRUSTS - Advantageous dealings - Whether and if so to what extent can order under s 81 of Trustee Act 1925 alter beneficial interests

TRUSTS - Deed - Amendment - Where power to vary trust in trust deed - Whether power exercisable to alter beneficiaries' entitlements - Whether court has power to amend deed - Trustee Act 1925, s 81

PRIVATE INTERNATIONAL LAW - Jurisdiction - Jurisdiction of NSW Supreme Court where proper law of trust is that of Papua New Guinea Legislation Cited: Conveyancing Act 1919 Statute of Uses 1535 (27 Hen VIII, c 10) Trustee Act 1925 (NSW) Trustee Act 1936 (SA) Trustee and Executors Act 1961 (PNG) Variation of Trusts Act 1958 (UK) Cases Cited: Arakella Pty Ltd v Paton [2004] NSWSC 13; (2004) 60 NSWLR 334 Augustus v Permanent Trustee Co (Canberra) Ltd [1971] HCA 25; (1971) 124 CLR 245 Chapman v Chapman [1954] AC 429 James N Kirby Foundation Ltd v Attorney General for New South Wales [2004] NSWSC 1153; (2004) 62 NSWLR 276 Ku-ring-gai Municipal Council v Attorney General (1953) 19 LGR (NSW) 105 Ku-ring-gai Municipal Council v Attorney General for New South Wales (1954) 55 SR (NSW) 65 Kearns v Hill (1990) 21 NSWLR 107 National Newark & Essex Banking Co v Rosahl 128 A 586, 1925 (NJ Ch) NM Superannuation Pty Ltd v Hughes (Supreme Court of New South Wales, McLelland CJ in Eq, 5 March 1996, unreported) Perpetual Trustees Victoria Ltd v Barns [2011] VSC 314; (2011) 7 ASTLR 349 Re BTA Institutional Services Australia Ltd [2009] NSWSC 1294; (2009) 3 ASTLR 207 Re Constantinou [2012] QSC 332; [2013] 2 Qd R 219; (2012) 271 FLR 276 Re Cosaf Pty Ltd (Supreme Court of New South Wales, Young J, 18 December 1992, unreported) Re Crawshay (1888) 60 LT 357 Re Downshire Settled Estates [1953] Ch 218 Re Ker's Settlement Trusts [1963] Ch 553 Re Philips New Zealand Ltd [1997] 1 NZLR 93 Re Walker [1901] 1 Ch 885 Re Webb; Webb v Rogers (1992) 57 SASR 193 Re McNaughton (Supreme Court of New South Wales, Young J, 8 December 1994, unreported) Riddle v Riddle [1952] HCA 12; (1952) 85 CLR 202 Saliba v Falzon (Supreme Court of New South Wales, Young J, 1 July 1988, unreported) Salkeld v Salkeld (No 2) [2000] SASC 296 Stein v Sybmore Holdings Pty Ltd [2006] NSWSC 1004; (2006) 64 ATR 325 Westfield Qld No 1 Pty Ltd v Lend Lease Real Estate Investments Ltd [2008] NSWSC 516; (2008) 1 ASTLR 525 Texts Cited: G W Thomas and A S Hudson, The Law of Trusts (Oxford University Press, 2nd edn, 2010) M Davies, A S Bell, P L G Brereton, Nygh's Conflict of Laws in Australia (LexisNexis, 9th edn, 2013) G W Thomas, Thomas On Powers (Oxford University Press, 2nd edn, 2012) Category: Principal judgment Parties: Dion Investments Pty Ltd (Plaintiff) Representation: Counsel: D Barlin (Plaintiff) Solicitors: Kells (Plaintiff) File Number(s): 2013/201038 Publication restriction: Nil