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Trustees of the ABC Trust v W, X, Y and Z is an anonymised decision subject to confidentiality orders that relates to an application by the trustees of the ABC Trust (the Trust) for directions that they can enter into a transaction (the Proposed Transaction) whereby the trustees would sell down part the Trust’s company … Continue reading
The Taxation (Annual Rates for 2026–27, FBT Simplification, Foreign Investment Funds, and Remedial Measures) Bill (the Bill) was introduced on 10 September 2026. Amendments to the Income Tax Act 2007 proposed in the Bill include: effective from the 2028-2029 and later income years a requirement that private trusts that allocate beneficiary income to tax exempt … Continue reading
The background of Rimmer v Wilton is summarised at [1] of the Supreme Court decision as follows: The decision of the Supreme Court is that as stated at [75] “… Ms Wilton is not entitled to receivea further share of the Moumoukai Road property under the provisions of the Administration Act. Under the Agreement, she … Continue reading
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 … 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
In Baker v Humphreys Mr Baker sought orders confirming his appointment as sole trustee and vesting trust property in him. The background details need consideration to put the application into context. These are summarised as: Sheila and Kim (the Trustees) were the original trustees of a trust Sheila had the power to appoint new trustees … Continue reading
