Cisera v Cisera Holdings Pty Ltd [2018] NSWCA 286

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Cisera v Cisera Holdings Pty Ltd [2018] NSWCA 286 Hearing dates: 13 February 2018 Decision date: 26 November 2018 Before: Bathurst CJ at [1]; Beazley P at [4]; White JA at [5] Decision: (1) Grant the applicants leave to appeal from the orders of the Equity Division of 20 July 2017. (2) The appeal be dismissed. Catchwords: EQUITY – trusts and trustees – powers of trustees – statutory jurisdiction of the court to confer powers on trustees pursuant to Trustee Act 1925 (NSW) s 81 – where applicants sought orders that would provide for the extension of the vesting date of a trust or would allow the trustee to extend the vesting date – whether Re Dion Investments Pty Ltd (2014) 87 NSWLR 753 was wrongly decided or distinguishable – whether orders would be expedient under s 81(1) – appeal dismissed Legislation Cited: Income Tax Assessment Act 1936 (Cth), s 78 Settled Land Acts 1925 (UK), s 64 Trustee Act 1958 (Vic), s 63A Trustee Act 1925 (NSW), ss 28, 81 Trustee Act 1925 (UK), s 57 Trustee Act 1936 (SA), s 59C Trustee Act 1956 (NZ), s 64A Trustees Act 1962 (WA), s 90 Trusts Act 1973 (Qld), s 95 Variation of Trusts Act 1958 (UK) Variation of Trusts Act 1993 (Tas), ss 13, 14 Cases Cited: Andtrust v Andreatta [2015] NSWSC 38 Arakella Pty Ltd v Paton (2004) 60 NSWLR 334; [2014] NSWSC 13 Bull v Boreas Pty Ltd [2015] NSWSC 761 Chapman v Chapman [1954] AC 429 Cisera v Cisera Holdings Pty Ltd [2017] NSWSC 960 Hancock v Rinehart [2015] NSWSC 646; (2015) 106 ACSR 207 House v The King (1936) 55 CLR 499 In Re Downshire Settled Estates; Marquess of Downshire v Royal Bank of Scotland [1953] Ch 218 James N Kirby Foundation Ltd v Attorney General (NSW) (2004) 62 NSWLR 276; [2004] NSWSC 1153 Paloto Pty Ltd v Herro [2015] NSWSC 445 Plator Nominees Pty Ltd [2012] VSC 284 Re Bowmil Nominees Pty Ltd [2004] NSWSC 161 Re Craven's Estate (No 2) [1937] Ch 431 Re Dion Investments Pty Ltd (2014) 87 NSWLR 753; [2014] NSWCA 367 Re Dion Investments Pty Ltd [2013] NSWSC 1941 Re Philips New Zealand Ltd [1997] 1 NZLR 93 Riddle v Riddle (1952) 85 CLR 202 Southgate v Sutton & Ors [2011] EWCA Civ 637 Stein v Sybmore Holdings Pty Ltd [2006] NSWSC 1004; (2006) 64 ATR 325 Sutton v England [2012] 1 WLR 326 Thomas Hare Investments Ltd v Raymond Thomas Hare [2012] VSC 200 Texts Cited: Variation of Trusts in New South Wales (1990) 13(2) UNSW Law Journal 359 Category: Principal judgment Parties: Mario Natale Cisera (1st Applicant) John Anthony Cisera (2nd Applicant) Cisera Holdings Pty Ltd (1st Respondent) Jeremy Neil Glass (2nd Respondent) Representation: Counsel: G K Burton SC with E W Young (Applicants) Submitting appearance (1st Respondent) M Cashion SC (2nd Respondent)