Segelov v Ernst & Young Services Pty Ltd [2014] NSWSC 283

Supreme Court New South Wales

Medium Neutral Citation: Segelov v Ernst & Young Services Pty Ltd [2014] NSWSC 283 Hearing dates: 20 and 21 February 2014 Decision date: 21 March 2014 Jurisdiction: Equity Division Before: Nicholas AJ Decision: (1) The statement of claim be dismissed. (2) The plaintiff pay the defendant's costs. Catchwords: TRUSTS - Trustees - Duty to beneficiary - Discretionary trust - Whether trustee had a duty to inform beneficiary of entitlement once determined - Whether trustee had a duty to ensure beneficiary received the benefit of any distribution Legislation Cited: Trustee Act 1925 (NSW) Cases Cited: Federal Commissioner of Taxation v Clendon Investments (1977) 7 ADR 493 Federal Commissioner of Taxation v Cornell (1946) 73 CLR 394 Federal Commissioner of Taxation v Vegners (1989) 89 ATC 5274 Hartigan Nominees Pty Ltd v Rydge (1992) 29 NSWLR 405 Hawkins v Clayton (1987-1988) 164 CLR 539 Hawkesley v May (1956) 1 QB 304 J W Broomhead (Vic) Pty Ltd (In Liq) v J W Broomhead Pty Ltd (1985) VR 891 Kennon v Spry (2008) 238 CLR 366 Russell v Scott (1936) 55 CLR 440 SAS Trustee Corporation v Cox [2011] NSWCA 408 Vegners v Federal Commissioner of Taxation (1991) 91 ATC 4213 Youyang Pty Ltd v Minter Ellison Morris Fletcher (2003) 212 CLR 484 Texts Cited: JD Heydon and MJ Leeming (eds), Jacobs' Law of Trusts in Australia (Lexis Nexis Butterworths, Australia, 7th ed, 2006) Category: Principal judgment Parties: Dana Segelov (Plaintiff) Ernst & Young Services Pty Ltd (Defendant) Representation: Counsel: M K Meek SC/D Barlin (Plaintiff) I M Jackman SC/D F C Thomas (Defendant) Solicitors: Turner Freeman Lawyers (Plaintiff) Kind & Wood Mallesons (Defendant) File Number(s): 2012/346052 Publication restriction: Nil