Reidy as Court appointed Trustee [2021] NSWSC 836

Reidy as Court appointed Trustee [2021] NSWSC 836

Given the trustee's exhaustive but unsuccessful inquiries regarding certain named beneficiaries and the clear entitlement of Naoki Takahashi as sole heir of Yoshitaka Takahashi, the trustee is justified in distributing the sum of $131,797.86 to Naoki Takahashi and otherwise in paying out the fund as proposed, and not liable if potential beneficiaries later appear, per the guidance of Re Benjamin orders.

Jurisdiction
Australia
Judgment Date
13 July 2021
Procedural Posture
Application for Judicial Advice by Trustee / Final Orders on Application
Outcome
Orders made granting judicial advice and directions as sought; distribution scheme approved; previous order varied under slip rule; Benjamin order granted.
Legal Topics
['judicial Advice to Trustee' 'benjamin Order' 'distribution of Trust Funds' 'correction of Orders (slip Rule)']
['equity' 'succession' 'trusts and Trustees'] ['judicial Advice to Trustee' 'benjamin Order' 'distribution of Trust Funds' 'correction of Orders (slip Rule)']

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Procedural Posture

Application for Judicial Advice by Trustee / Final Orders on Application

Legal Issues

  1. 1 ['Whether the trustee is justified in distributing the residue of the trust fund in accordance with the proposed scheme, including making payment to Naoki Takahashi as sole heir and declining to pay other potential or unascertained beneficiaries;' 'Whether it is appropriate to make a variation to the previous distribution orders under rule 36.17 of the Uniform Civil Procedure Rules 2005 (NSW);' 'Whether notice is only required to be given to certain persons prior to distribution;']

Ratio Decidendi

Given the trustee's exhaustive but unsuccessful inquiries regarding certain named beneficiaries and the clear entitlement of Naoki Takahashi as sole heir of Yoshitaka Takahashi, the trustee is justified in distributing the sum of $131,797.86 to Naoki Takahashi and otherwise in paying out the fund as proposed, and not liable if potential beneficiaries later appear, per the guidance of Re Benjamin orders.

Court Disposition

Orders made granting judicial advice and directions as sought; distribution scheme approved; previous order varied under slip rule; Benjamin order granted.

Orders

  • ['Pursuant to Rule 36.17 of the Uniform Civil Procedure Rules, vary the order made by the court on 27 July 2006 in the Earthwise proceedings (1604 of 2002) to direct the plaintiff to distribute $131,797.86 to Naoki Takahashi.' 'Advise, pursuant to section 63 of the Trustee Act, that the plaintiff would be justified...