Application of Country Road Services Pty Ltd (In the matter of the Browne Family Trust) [2019] NSWSC 779

Supreme Court New South Wales

Medium Neutral Citation: Application of Country Road Services Pty Ltd (In the matter of the Browne Family Trust) [2019] NSWSC 779 Hearing dates: 7 November 2017; 6 December 2018; further written submissions and evidence 15 May 2019 Date of orders: 25 June 2019 Decision date: 25 June 2019 Jurisdiction: Equity Before: Parker J Decision: 1. Summons dismissed. 2. No order as to costs. Catchwords: EQUITY – power of court to approve advantageous dealings – discretionary family trust – proposed distribution of trust income and capital to non-beneficiary – Trustee Act 1925 (NSW), s 81- generality of orders sought – "in the administration or management of the trust" – objectives of the trust – "expedient" Legislation Cited: Income Tax Assessment Act 1936 (Cth), Part 3A Trustee Act 1925 (NSW), ss 57, 81 Cases Cited: Arakella Pty Ltd v Paton (2004) 60 NSWLR 334; [2004] NSWSC 13 Cameron v Jeffress [2014] NSWSC 702 Chapman v Chapman [1954] AC 429 Cisera v Cisera Holdings Pty Limited [2017] NSWSC 960 Cisera v Cisera Holdings Pty Ltd [2017] NSWSC 960 Cisera v Cisera Holdings Pty Ltd [2018] NSWCA 286 Ku-Ring-Gai Municipal Council v Attorney-General (1954) 55 SR (NSW) 65 Municipal and General Securities Co Ltd v Lloyds Bank Ltd [1950] Ch 212 Perpetual Trustee Co Ltd v Godsall [1979] 2 NSWLR 785 re Collins (1886) 32 Ch D 229 Re Dion Investments Pty Ltd (2014) 87 NSWLR 753; [2014] NSWCA 367 Re Downshire Settled Estates [1953] Ch 218; 1 All ER 103 re Walker [1901] 1 Ch 879 Re Z Trust [2009] CILR 593 Segelov v Ernst & Young Pty Ltd (2015) 89 NSWLR 431; [2015] NSWCA 156 Southgate v Sutton [2011] EWCA Civ 637; [2012] 1 WLR 326 Stein v Sybmore Holdings Pty Ltd (2006) 64 ATR 325 Texts Cited: Denis Ong, Trust Law in Australia (5th ed, Federation Press, 2018) Category: Principal judgment Parties: Country Road Services Pty Ltd (Plaintiff) Representation: Counsel: D Barlin (Plaintiff)