Re Smallacombe and Zausa [2019] NSWSC 1626

Supreme Court New South Wales

Medium Neutral Citation: Re Smallacombe and Zausa [2019] NSWSC 1626 Hearing dates: 22 October 2019 Decision date: 22 October 2019 Jurisdiction: Equity Before: Ward CJ in Eq Decision: 1. Note that Steven Brian Smallacombe of 54 Baden Powell Street, Maroochydore, Queensland and Helen Bernadette Zausa of 18 Barakula Street, South Ripley, Queensland retire as trustees of the trust created by the Deed of Trust dated 22 December 1986 and known as The Jennifer Zausa Trust, at 10am on 2 December 2019. 2. The Public Trustee of Queensland of 444 Queen Street Brisbane, Queensland be appointed trustee of the trust created by the Deed of Trust dated 22 December 1986 and known as the Jennifer Zausa Trust, in substitution for Steven Brian Smallacombe and Helen Bernadette Zausa from 10am on 2 December 2019. 3. Order that the property, investments, moneys and all other assets of whatsoever kind and wheresoever situated now, subject to the trust created by the Deed of Trust dated 22 December 1986 and known as the Jennifer Zausa Trust, vest in the Public Trustee of Queensland, upon the trusts of the said Deed of Trust, so far as the same are now subsisting and capable of taking effect. 4. Order that the plaintiffs' costs be paid out of the trust fund on the common fund basis. Catchwords: EQUITY — Trusts and trustees — Court's supervision of — Appointment and removal of trustees – application for court approval of retirement of trustees and appointment of the Public Trustee of Queensland in place of the retiring trustees Legislation Cited: Public Trust Act 1978 (Qld),s 11A Trustee Act 1925 (NSW), s 70 Cases Cited: Allison v Permanent Trustee Australia Limited (Supreme Court (NSW), Powell K, 8 September 1988, unrep) In Re Hood's Will (1899) 16 WN 20 In Re Powell's Trust (1902) 19 WN 199 Richardson and Wrench Limited v Plomley (1892-1894) 15 NSWLR 131 Category: Principal judgment Parties: Steven Brian Smallacombe (First Plaintiff) Helen Bernadette Zausa (Second Plaintiff) Representation: Counsel: P Wallis (Plaintiffs)