Willis v Willis [2016] NSWSC 1546

Willis v Willis [2016] NSWSC 1546

Kylie Sharee Willis was removed as trustee because the evidence showed she had failed to act in accordance with the terms of the trusts, including evidence that substantial trust funds had been paid to her in cash and that only a portion had been applied for Grace or Skye's benefit, so removal was necessary to protect the trust property and the beneficiaries' interests. Appointment of Grace & Skye Willis Company Pty Ltd as corporate trustee was the appropriate course.

Jurisdiction
Australia
Judgment Date
01 November 2016
Procedural Posture
Equity Proceedings for Removal of Trustee and Appointment of New Trustee / Principal Judgment; Reasons for Orders Made on 31 October 2016
Outcome
Trustee removed; new trustee appointed; orders made to secure trust assets.
Legal Topics
['removal of Trustee' 'appointment of New Corporate Trustee' 'protection of Trust Property' 'misappropriation of Trust Property' "beneficiaries' Interests"]
['equity' 'trusts and Trustees'] ['removal of Trustee' 'appointment of New Corporate Trustee' 'protection of Trust Property' 'misappropriation of Trust Property' "beneficiaries' Interests"]

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Procedural Posture

Equity Proceedings for Removal of Trustee and Appointment of New Trustee / Principal Judgment; Reasons for Orders Made on 31 October 2016

Legal Issues

  1. 1 ['Whether Kylie Sharee Willis should be removed as trustee of the Grace Elizabeth Willis Trust and Skye Alexandria Willis Trust.' 'Whether Grace & Skye Willis Company Pty Ltd should be appointed as the new trustee.' 'Whether orders should be made to secure and vest the assets of the trusts in the new trustee.']

Ratio Decidendi

Kylie Sharee Willis was removed as trustee because the evidence showed she had failed to act in accordance with the terms of the trusts, including evidence that substantial trust funds had been paid to her in cash and that only a portion had been applied for Grace or Skye's benefit, so removal was necessary to protect the trust property and the beneficiaries' interests. Appointment of Grace & Skye Willis Company Pty Ltd as corporate trustee was the appropriate course.

Court Disposition

Trustee removed; new trustee appointed; orders made to secure trust assets.

Orders

  • ['Kylie Sharee Willis removed as trustee of the Grace Elizabeth Willis Trust and Skye Alexandria Willis Trust.' 'Grace & Skye Willis Company Pty Ltd appointed as trustee of the Grace Elizabeth Willis Trust and Skye Alexandria Willis Trust.' 'The Oura and Aldgate properties and the relevant Bendigo Bank account...