From: Neil Foster <neil.foster@newcastle.edu.au>

Sent: Wednesday 5 February 2025 00:23

To: obligations@uwo.ca

Subject: ODG: HCA on fiduciary obligations of successor trustee

Dear Colleagues;

As equity is not my area, this is just a very brief note of a High Court of Australia decision for those who may be interested. In Naaman v Jaken Properties Australia Pty Limited [2025] HCA 1 (5 Feb 2025) the court by a 4-3 majority (Gageler CJ, with Gleeson, Jagot, Beech-Jones JJ; Gordon, Edelman, Steward JJ dissenting) held that a successor trustee does not have a fiduciary duty to a former trustee who has a right of indemnification against a trust fund relating to former work done for the fund. There is some discussion of different types of equitable rights and how fiduciary obligations arise. Happy reading!

Regards

Neil

NEIL FOSTER

Associate Professor, School of Law and Justice

College of Human and Social Futures,

University of Newcastle, NSW

T: +61 2 49217430

E: neil.foster@newcastle.edu.au

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