Apparently conflicting prior trustee resolutions

The background to Guy v Guy is an application for an interim injunction in circumstances where:

• a caveat lodged on the title to a trust property was lapsed following receipt of an undertaking by the trustees to retain defined “net proceeds” from the sale of the property pending resolution of trust disputes
• subsequently the trustees directed that a portion of the proceeds of sale be distributed to a beneficiary in consideration of that beneficiary providing vacant possession
• one of the two trustees died leaving a single trustee, the trust terms providing that pending the appointment of another trustee, the surviving trustee can take no steps other than to preserve trustee property

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 to the undertaking they proffered, pending this Court’s substantive decision [regarding the matters that lead to the caveat being lodged].”

References:

• Guy v Guy [2026] NZHC 1871
• Trusts Act 2019
• High Court Rules 2016, r 7.53