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In Butterfield v Sundberg the applicant seeks directions under s 66 of the Trustee Act 1956 to be commenced by way of originating application pursuant to Part 19 of the High Court Rules to allow the final distribution of the trust estate’s modest assets. The grounds for the application are set out at [15] as follows: … Continue reading
Stafford v Accident Compensation Corporation explores the limits to proprietary claims that will support a caveat. The facts of the matter are complex. However, the key points are as follows: the claim is founded on the Supreme Court decision Proprietors of Wakatū v Attorney-General, which is summarised as follows in Stafford: [5] In 1839, William Wakefield … Continue reading
Given the new presumption in the Trusts Act 2019 that, with effect from 30 January 2021, trustees will give basic trust information to every beneficiary, it can be presumed that many trustees will be looking to cull trust beneficiaries to ensure trusts comply with the settlor or settlors’ intentions, whether or not these are expressed … Continue reading
Geneva Trust Company v Tchenguiz is one of many judgments of the Jersey Royal Court that relate to the Tchenguiz Trusts. In this case the Geneva Trust Company (Geneva) sought reimbursement of costs it incurred defending proceedings brought against it in the English High Court. A brief history of the matter is set out in the … Continue reading
Daisley v Ark Contractors Limited relates to a commercial venture that came into fruition over a decade ago. The venture involved transfer of properties owned by the first (Daisley) and second (SDD Limited) plaintiffs, which were about to be sold at mortgagee auction. The Kellers (the second defendants) contributed capital and setting up the first … Continue reading
But it is still property! The High Court decision in Ruscoe v Cryptopia Limited (In Liquidation) concerning an application for directions by the liquidators of a cryptocurrency trading exchange online platform, builds on concepts of property explored in Clayton v Clayton. By way of background, Cryptopia Limited (Cryptopia) was placed in liquidation in May 2019 by its … Continue reading
Ethel Moudale Uluakiahoia died intestate on or abut 5 January 1989 leaving 10 adult children, three of whom were some years later appointed administrators in 2008. Following Mrs Uluakiahoia’s death different family members lived in the Estate’s sole asset, a residential property in Papatoetoe. Eventually, agreement was reached that one of the administrators Ms Povey, … Continue reading
In Re Estate of Kamo relates to the interpretation of a clause in a will that on the face of it, offends the rule against perpetuities. The clause in question provides that: “I DIRECT the residue of my estate shall be administered by the Public Trustee as Trustee to provide a scholarship to be known as … Continue reading
Sometimes, an estate will be known to be insolvent from when the individual dies. If the deceased was already declared prior to death, the Official Assignee (OA) carries on as normal. But what happens if it becomes apparent sometime after death that the estate is insolvent and how does this affect the executor/trustees? This issue … Continue reading
Where a trustee wishes to retire, the first inquiry as to how to do so, must be to the terms of the trust. If the trust instrument is silent, then the provisions of the Trustee Act 1956 will prevail. However, what might the position be if the trust instrument provides for retirement, but does not … Continue reading
Matters of Trust 