Brown as executor of the estate of the late Petar Vezmar (aka Peter Vezmar) (No 2) [2016] NSWSC 1752

Supreme Court New South Wales

Medium Neutral Citation: Brown as executor of the estate of the late Petar Vezmar (aka Peter Vezmar) (No 2) [2016] NSWSC 1752 Hearing dates: Thursday, 8 December 2016 (in chambers) Date of orders: 09 December 2016 Decision date: 09 December 2016 Jurisdiction: Equity Before: Brereton J Decision: Subject to compliance with (NSW) Trustee Act 1925, s 63(8), (9) and (10), the plaintiff would be justified in distributing the estate on the footing that the gift referred to in clause 6.1 of the will has taken effect, and the gift referred to in clause 6.2 of the will, and the trust referred to in clause 8 of the will, have no operation. Catchwords: EQUITY – trusts and trustees – applications to the court for advice and authority – application for judicial advice – by NSW executor and trustee of will – where will devises Serbian realty on trusts – where devise of realty governed by Serbian law – where Serbian law does not recognise trusts so that devisee takes absolutely – where will contains substitutional gift to trustees if gift of realty does not take effect – whether gift has taken effect – held, it has and substitutional gift and trusts have no operation – where question affects rights of beneficiaries – whether to give advice – where affected beneficiaries reside in Serbia with devisee of realty and may not wish to be heard – (NSW) Trustee Act 1925, s 63(8), (9) and (10) – judicial advice given Legislation Cited: (NSW) Trustee Act 1925, s 63 (NSW) Uniform Civil Procedure Rules 2005, r 55.3 Cases Cited: International Art Holdings Pty Ltd (admin apptd), In the matter of; International Art Holdings Pty Ltd (admin apptd) & ors v Adams & ors [2011] NSWSC 164 Noel Mockett Brown as executor of the estate of the late Petar Vezmar (aka Peter Vezmar) [2015] NSWSC 1470 Willoughby City Council (as manager of the Talus Reserve Trust), Application of & anor [2016] NSWSC 1717 Category: Consequential orders (other than Costs) Parties: Noel Mockett Brown as executor of the Estate of Petar Vezmar (also known as Peter Vezmar) (applicant) Representation: Counsel: L Ellison SC (applicant)