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dc.contributor.authorMohseni, Aryan
dc.date.accessioned2025-02-14T05:49:25Z
dc.date.available2025-02-14T05:49:25Z
dc.date.issued2024en_AU
dc.identifier.urihttps://hdl.handle.net/2123/33636
dc.description.abstractThe High Court of Australia appeal in Naaman v Jaken Properties raises the question whether a successor trustee owes a ‘fiduciary duty’ to the former trustee to not destroy, jeopardise or diminish the former trustee’s right of indemnity over trust assets. That question arises to determine whether third parties are liable to account in equity as knowing recipients of property dissipated to frustrate the former trustee’s indemnity. It is argued in the appeal that the successor trustee holds the trust assets on express trust for the former trustee to the extent of the former trustee’s indemnity. That conclusion does not account for the variety of equitable interests. Three main points emerge. First, a current trustee has a ‘beneficial interest’ in trust assets only in a superficial sense. Second, upon transfer, that ‘beneficial interest’ is not ‘retained’ by the former trustee; the entitlement of a former trustee over the trust fund changes, and becomes analogous to a charge over a fund. The language of ‘beneficial interest’ in each case is misleading and should be eschewed. Third, it is unnecessary to ask, for the purposes of Barnes v Addy liability, whether any ‘duty’ owed by a successor to a former trustee is a ‘fiduciary duty’.en_AU
dc.language.isoenen_AU
dc.publisherSydney Law Schoolen_AU
dc.relation.ispartofSydney Law Reviewen_AU
dc.rightsCopyright All Rights Reserveden_AU
dc.subjectTrusteesen_AU
dc.subjectTrustee indemnitiesen_AU
dc.subjectFiduciary dutiesen_AU
dc.subjectEquityen_AU
dc.subjectBeneficial interestsen_AU
dc.subjectBarnes v Addyen_AU
dc.subjectAccessorial liabilityen_AU
dc.subjectConstructive trustsen_AU
dc.subjectLienen_AU
dc.titleTrustees’ Indemnities and Fiduciary Duties: The High Court Appeal in Naaman v Jaken Properties Australia Pty Ltden_AU
dc.typeArticleen_AU
dc.identifier.doi10.30722/slr.20194
dc.type.pubtypePublisher's versionen_AU
usyd.facultySeS faculties schools::The University of Sydney Law Schoolen_AU
usyd.citation.volume46en_AU
usyd.citation.issue3en_AU
usyd.citation.spage373en_AU
usyd.citation.epage385en_AU
workflow.metadata.onlyNoen_AU


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