BAGI Pty Ltd trading as atf Nick Ristevski Family Trust v Marka Ristevski [2023] NSWSC 567

BAGI Pty Ltd trading as atf Nick Ristevski Family Trust v Marka Ristevski [2023] NSWSC 567

The common intention for the 2015 Deed was to replicate the beneficiaries of the 1989 Deed. Due to a mistake, the 2015 Deed failed to do so. The rectification is justified to accurately reflect the original trust's intent and the Trustee is justified in acting on the rectified deed.

Jurisdiction
Australia
Judgment Date
26 May 2023
Procedural Posture
Application for Rectification and Judicial Advice / Final Orders
Outcome
2015 Deed rectified; judicial advice granted under Trustee Act 1925, s 63; costs ordered to be paid out of the estate.
Legal Topics
['rectification' 'trust Deed' 'discretionary Trusts' 'judicial Advice']
['equity'] ['rectification' 'trust Deed' 'discretionary Trusts' 'judicial Advice']

Case Brief

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Procedural Posture

Application for Rectification and Judicial Advice / Final Orders

Legal Issues

  1. 1 ['whether the 2015 Deed should be rectified to amend the list of beneficiaries to those named in the 1989 Deed' 'whether the Trustee would be justified in acting in administration of the Trust on the basis that the rectified 2015 Deed accurately reflects the 1989 Deed']

Ratio Decidendi

The common intention for the 2015 Deed was to replicate the beneficiaries of the 1989 Deed. Due to a mistake, the 2015 Deed failed to do so. The rectification is justified to accurately reflect the original trust's intent and the Trustee is justified in acting on the rectified deed.

Court Disposition

2015 Deed rectified; judicial advice granted under Trustee Act 1925, s 63; costs ordered to be paid out of the estate.

Orders

  • ['Declare common intention of the parties to the 2015 Deed was to reproduce beneficiaries in the 1989 Deed.' 'Order rectification to delete Marka Ristevski and add Natasha Mladenovk and Tatjana Tanevski as beneficiaries in the 2015 Deed.' 'Order retention of only sub-paragraph (a) in definition of Beneficiaries in...