Damian Clothier KC and Jason Mitchenson appeared for the applicant, instructed by Piper Alderman.
This case involved an application by the Joint Venture Testamentary Trust (JVTT) seeking directions, in the nature of judicial advice and pursuant to s 96(1) of the Trusts Act 1973 (Qld), regarding an issue as to the JVTT Trustee being required to fund and pursue a course of action in relation to the Joint Venture Agreement (JVA). Before providing directions under s 96(1) of the Act, the Court considered whether it had jurisdiction to do so, and if it was appropriate for the directions sought to be provided. It was held that it was appropriate for the Court to provide the judicial advice sought by the application, and it was ordered that the applicant is justified in taking the course of action, with the applicant’s costs ordered to be paid or reimbursed out of the JVTT assets on an indemnity basis.
The judgment can be read by clicking here
