The start of the NSW Supreme Court battle over the Hancock/Rinehart family trust has cast a spotlight on the issue of removing trustees from their office. What are the relevant principles when a beneficiary seeks to remove a trustee? Power conferred by the trust instrument The first place to look is the trust instrument. Beneficiaries […]
Category Archives: Trusts
In Westfield Management Ltd v AMP Capital Property Nominees Ltd [2012] HCA 54, four members of the High Court held that any contractual term that limits the protections provided under Chapter 5C of the Corporations Act is invalid. Section 601NB of the Corporations Act allows members of a registered MIS to call a members’ meeting […]
In Montevento Holdings Pty Ltd v Scaffidi [2012] HCA 48 the High Court affirmed two principles so apparently uncontroversial that you might be left wondering why special leave was granted, but the Court did correct the error made below. In doing so the Court confirmed that: a trust deed should in the first instance be […]
