From hallandwilcox.com.au: Re Lingamaneni Momentum Melbourne Unit Trust, highlighted the breakdown of relations among unitholders and the extreme measure of terminating the unit trust.

The court ruled that unitholders do not owe fiduciary duties to one another and allowed the termination, emphasising the need for unitholders to protect their interests and seek legal advice when managing a unit trust.

Key takeaways from the case include the importance of governance structures and information access among unitholders.