Absolute Vision Technologies: Former SMSF Corporate Trustee in Administration Still Holding SMSF Property

The New South Wales Supreme Court decision in Re Absolute Vision Technologies Pty Ltd (subject to deed of company administration) [2024] NSWSC 1010 provides judicial guidance in relation to whether a former corporate trustee, despite being in voluntary administration, could complete a sale contract for SMSF property and distribute the proceeds to the new trustee.

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The Courts supervisory powers: ensuring the proper administration and due execution of trusts

In the case of Dryandra Investments Pty Ltd v Hardie by her guardian ad litem Ian Torrington Blatchford [2024] WASC 24, the Supreme Court of Western Australia examined a key aspect of estate planning and structuring: ensuring proper succession for the roles of appointor and guardian. The decision underscores the risks that arise when these crucial roles are overlooked, and succession is not addressed by an appointor or guardian before they lose capacity or pass away.

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Gainer The Sequel – Lost Discretionary Trust Deed Failed for Uncertainty

The New South Wales Supreme Court has reconvened for a second time, this time addressing the implications of a lost trust deed.  This decision highlights the crucial responsibility of trustees to properly preserve trust deed documents, not only to maintain the trust’s validity but also to prevent adverse outcomes, such as taxation or duties.

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