Scott MacRae Investments Pty Limited -v- Baylily Pty Limited [2012] NSWSC 823

Scott MacRae Investments Pty Limited -v- Baylily Pty Limited [2012] NSWSC 823

All statutory factors under s 95(4) of the Succession Act 2006 (NSW) were satisfied; the terms of release are fair, reasonable, financially and personally advantageous to the second plaintiff, and independent legal advice was taken.

Parties
First Plaintiff: Scott MacRae Investments Pty Limited ACN 134 101 750; Second Plaintiff: Scott Alexander MacRae; First Defendant: Baylily Pty Limited ACN 003 993 397; Second Defendant: Pacific Lennox Properties Pty Limited; Fourth Defendant: Brooklet Pastoral Co No. 2 Pty Limited; Fifth Defendant: Cuefax Pty Limited; Sixth Defendant: David Robert Alexander MacRae; Seventh Defendant: Susan Beverley MacRae
Jurisdiction
Australia
Judgment Date
16 July 2012
Procedural Posture
Application Under S 95 Succession Act 2006 (nsw) for Approval of Release of Rights to Apply for Family Provision Orders / Final Decision on Notice of Motion for Approval of Release
Outcome
Order made approving the release as sought; further orders disposing of the proceedings by consent.
Legal Topics
Family Provision, Release of Rights, Settlement Approval
Succession Law Family Provision Release of Rights Settlement Approval

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Parties

Scott MacRae Investments Pty Limited ACN 134 101 750

First Plaintiff

Scott Alexander MacRae

Second Plaintiff

Baylily Pty Limited ACN 003 993 397

First Defendant

Pacific Lennox Properties Pty Limited

Second Defendant

Brooklet Pastoral Co No. 2 Pty Limited

Fourth Defendant

Cuefax Pty Limited

Fifth Defendant

David Robert Alexander MacRae

Sixth Defendant

Susan Beverley MacRae

Seventh Defendant

Procedural Posture

Application Under S 95 Succession Act 2006 (nsw) for Approval of Release of Rights to Apply for Family Provision Orders / Final Decision on Notice of Motion for Approval of Release

Legal Issues

  1. 1 Whether release of rights to apply for a family provision order should be approved under s 95 of the Succession Act 2006 (NSW)

Ratio Decidendi

All statutory factors under s 95(4) of the Succession Act 2006 (NSW) were satisfied; the terms of release are fair, reasonable, financially and personally advantageous to the second plaintiff, and independent legal advice was taken.

Court Disposition

Order made approving the release as sought; further orders disposing of the proceedings by consent.

Orders

  • Order in terms of paragraph 1 of the Notice of Motion dated 9 July 2012 approved under s 95 Succession Act 2006 (NSW)
  • Further orders disposing of the proceedings by consent