Dalziel as Trustee of the Finding Property Trust v Finding

The case of Dalziel as Trustee of the Finding Property Trust v Finding arose in the Queensland Court of Appeal. The dispute involved the administration of a trust, specifically the distribution of its assets following the sale of the trust's principal asset. The trustees sought guidance from the Court on how to proceed with the distribution of the trust's assets, given that the majority of the beneficiaries had reached an agreement on the distribution of the funds.

The central legal issue the court had to address was whether the trustees were justified in following the agreement reached by the majority of beneficiaries in distributing the trust's assets. The court was required to determine whether the trustees had the right to seek advice and directions from the Court, and if the proposed distribution was in line with the trust's objectives and the beneficiaries' agreement.

The Court held that the trustees had the right to seek advice and direction from the Court, especially in circumstances where there was a dispute or uncertainty regarding the trust's administration. The Court found that the trustees' proposed distribution, which aligned with the agreement of the majority of beneficiaries, was justified and in the best interest of the trust and its beneficiaries. The Court also determined that the trustees should first reimburse a creditor before proceeding with the distribution of the remaining funds. The Court ordered that the trustees should distribute one third of the trust's assets to each of the three beneficiaries, Jean Edna Finding, Kathryn Hennessy, and Rosslyn Finding, after paying off the trust's debts. Additionally, the Court ordered that the trustees' costs of the application be paid from the trust on an indemnity basis.