Application of DEK Technologies Pty Ltd as trustee for DEK Technologies Unit Trust & Ors (No 2) [2023] NSWSC 594
The Court has jurisdiction under s 63 Trustee Act 1958 (Vic) and s 94 Trusts Act 1973 (Qld) to confer powers on trustees due to the absence of trust deeds and insufficient statutory powers, and the transactions are expedient for the management and financial advantage of the trusts.
- Jurisdiction
- Australia
- Judgment Date
- 02 June 2023
- Procedural Posture
- Application by Trustees / Second Stage—orders Conferring Powers
- Outcome
- Orders conferring trustee powers made.
- Legal Topics
- ['trusts' 'trustees' 'conferring Powers' 'jurisdiction' 'expediency' 'absence of Trust Deed']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Application by Trustees / Second Stage—orders Conferring Powers
Legal Issues
- 1 ['Whether the Court has jurisdiction to confer trustee powers under applicable legislation.' 'Whether the proposed dealings (a restructure and sale by the trusts) fall within relevant statutory provisions.' 'Whether the transactions are expedient.' 'Whether the trustee powers are absent, requiring Court intervention.']
Ratio Decidendi
The Court has jurisdiction under s 63 Trustee Act 1958 (Vic) and s 94 Trusts Act 1973 (Qld) to confer powers on trustees due to the absence of trust deeds and insufficient statutory powers, and the transactions are expedient for the management and financial advantage of the trusts.
Court Disposition
Orders conferring trustee powers made.
Orders
- ['Orders sought in Short Minutes of Order provided by counsel granted.']
Full Case Text
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