Cisera v Cisera Holdings Pty Ltd [2017] NSWSC 960

Supreme Court New South Wales

Medium Neutral Citation: Cisera v Cisera Holdings Pty Ltd [2017] NSWSC 960 Hearing dates: 28 June 2017 Date of orders: 20 July 2017 Decision date: 20 July 2017 Jurisdiction: Equity Before: Parker J Decision: Summons dismissed Catchwords: Equity – power of court to approve advantageous dealings – discretionary family trust – extension of vesting date – Trustee Act 1925 (NSW), s 81 – "transaction" – generality of orders sought – "in the administration or management of the trust" – objectives of the trust – "expedient" Legislation Cited: Law of Property Act 1922 (UK), s 123 Perpetuities Act 1984 (NSW) Trustee Act 1925 (NSW), s 81 Trustee Act 1925 (UK), s 57 Cases Cited: Andtrust v Andreatta [2015] NSWSC 38 Arakella Pty Ltd v Paton (2004) 60 NSWLR 334; [2004] NSWSC 13 Chapman v Chapman [1954] AC 429; 1 All ER 798 Cisera v Cisera Holdings Pty Ltd [2016] NSWCA 319 Macedonian Orthodox Community Church St Petka Incorporated v Metropolitan Petar [2013] NSWCA 223 Paloto Pty Ltd v Herro [2015] NSWSC 445 Re Dion Investments Pty Ltd (2014) 87 NSWLR 753; [2014] NSWCA 367 Re Downshire Settled Estates [1953] Ch 218; 1 All ER 103 Re Strang (1941) 41 SR (NSW) 114 Riddle v Riddle (1952) 85 CLR 202; [1952] HCA 12 Segelov v Ernst & Young Services Pty Ltd (2015) 89 NSWLR 431; [2015] NSWCA 156 Stein v Sybmore Holdings Pty Ltd (2006) 64 ATR 325; [2006] NSWSC 1004 Ku-Ring-Gai Municipal Council v Attorney-General (1954) 55 SR (NSW) 65 Texts Cited: RW White, "Trusts – an Australian perspective" [2010] NSWJSchol 10 Category: Principal judgment Parties: Mario Natale Cisera (First Plaintiff) John Anthony Cisera (Second Plaintiff) Cisera Holdings Pty Ltd (First Defendant) Jeremy Neil Glass (Second Defendant) Representation: Counsel: GK Burton SC (Plaintiffs) P O'Loughlin (Second Defendant)