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The background to Guy v Guy is an application for an interim injunction in circumstances where: Jagose J considered at [15] that “… the course of least irremediable prejudice here is to restore the status quo ante, to enable substantial justice to be done between the parties at trial. That position is the trustees[be] held … Continue reading
The background to Taranaki Community Accountability Society Inc v Ussher is an unsuccessful application for an interim injunction and a prospective costs order. The applicant had sought to restrain the trustees of the Toi Foundation (the Foundation) from voting on a proposed sale of shares in TSB Bank and requiring the Foundation to apply for … Continue reading
The decision in Perpetual Trust v Cooke is the first appellate level consideration as to how the general duty of care in section 29 of the Trusts Act 2019 relates to the principle of non-intervention in discretionary trustee decisions. In Perpetual Trust v Cooke the Court of Appeal held that that section 29 is not … Continue reading
The background to Re Lake is a “show cause” hearing in relation to a caveat against probate. The will in question (the 2021 Will) provided for the deceased’s surviving children to share equally in his estate with no gift over for grandchildren. Previous wills made greater provision for the Cavator. The named executors had obtained … Continue reading
The High Court decision in Re Neal Grenville Johnson Trust (the Trust) reflects a practical approach to the termination of a trust where the trustee has no discretion to distribute capital and there is no power to bring forward the vesting day, which is still 32 years away. The terms of the Trust provided that … Continue reading
Arrangements that vary or terminate trusts are commonly (but not necessarily) recorded in deeds of family arrangement. That said, regardless of how any settlement is styled, to effect a change in accordance with the rule in Saunders v Vautier, or section 121 of the Trusts Act 2019, without the assistance of the Court, strict compliance … Continue reading
