In the matter of Simpson [2020] NSWSC 1716

In the matter of Simpson [2020] NSWSC 1716

Orders for appointment of trustees and vesting of property were necessary to properly administer the Trust and transfer property, as there were no current trustees with power; vesting Trust property in beneficiaries brought the Trust to an end, the purpose having been satisfied.

Parties
Plaintiff: James Eric Anthony Simpson; Proposed Trustee: Jlorie Eykhos; Former Trustee: William Walter McGregor; Former Trustee: John Joseph Lyons
Jurisdiction
Australia
Judgment Date
02 December 2020
Procedural Posture
Equity Application / Final Determination
Outcome
Orders granted as sought by plaintiff
Legal Topics
Appointment of Trustees, Vesting of Trust Property, Court's Supervision of Trusts
Equity Trusts Appointment of Trustees Vesting of Trust Property Court's Supervision of Trusts

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Parties

James Eric Anthony Simpson

Plaintiff

Jlorie Eykhos

Proposed Trustee

William Walter McGregor

Former Trustee

John Joseph Lyons

Former Trustee

Procedural Posture

Equity Application / Final Determination

Legal Issues

  1. 1 Whether Court should appoint new trustees for the Trust Deed executed 12 July 1962 under s 70(1) Trustee Act 1925 (NSW)
  2. 2 Whether Court should make a vesting order regarding the Barraba Property under s 71(2)(a) Trustee Act 1925 (NSW)

Ratio Decidendi

Orders for appointment of trustees and vesting of property were necessary to properly administer the Trust and transfer property, as there were no current trustees with power; vesting Trust property in beneficiaries brought the Trust to an end, the purpose having been satisfied.

Court Disposition

Orders granted as sought by plaintiff

Orders

  • Jlorie Eykhos and James Eric Anthony Simpson appointed as Trustees of the Trust Deed executed 12 July 1962 in place of deceased trustees
  • Property the subject of the Trust Deed vested in Jlorie Eykhos and James Eric Anthony Simpson as tenants in common in equal shares