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The Supreme Court has dismissed an appeal against the decision of the Court of Appeal (upholding the High Court decision) in Glover v Glover where the court found that a ruse was not a sham. Briefly a bare trust arrangement entered into to avoid a tax impost was found to have achieved its object and accordingly … Continue reading
1 does not equal 2. A trust is not a legal entity. The trustees of a trust are the “legal” face of the trust. When there is more than one trustee, generally all of the trustees must be party to the agreement. These are fundamental propositions of trust law. That means that if the trustees of … Continue reading
The common intention constructive trust is a rare beast. When trying to make such an argument it is essential to have the facts right as demonstrated in the decision in Ridge v Parore (Common Intention Constructive Trust, or not). The cost of getting the argument wrong in an argument that the court described as “doomed … Continue reading
If so, you still have time to register for the trustee liability webinar that Vicki Ammundsen is presenting for CCH Learning on 16th April 2014 at 10.30 This webinar, which will conclude with a question and answer section, will utilise a case study to demonstrate how trustee liability arises and the practical steps that can … Continue reading
Trustees do not always get on as well as is necessary to do the job of being a trustee. Friction in the trustee relationship can arise for many reasons, often, but not always, the friction relates to the break down of a family relationship. When trustees cannot get on the issue to be determined is … Continue reading
The electronic age is upon us. My own office is looking at a paperless environment. Anyone who has actually seen my office will realise this is a pipe dream. The practical reality is that the times they are a changing and scanned documents stored in the cloud is where it is largely at. Wherever in … Continue reading
The matter of Stokes v Insight Legal has resulted in one Court of Appeal and four High Court and judgments. The facts can be boiled down to: Mrs Colebrook (since remarried, although in the court decisions she is referred to by her former married name) defaults on the purchase of a property the Vendors fail in their attempt … Continue reading
New Zealand has an extraordinary number of family trusts. This love affair with trusts, perhaps not surprisingly, is not limited to family trusts and is mirrored in the number of charitable trusts. One issue with the number of charitable trusts is the fragmentation of potential resources and how these can be diminished through administration, legal … Continue reading
The common intention constructive trust is a rare beast. Its remedial potential had a brief moment of sun until the Court of Appeal delivered its decision in Harvey v Beveridge. The facts of Harvey v Beveridge can be summarised as follows: Mr Beveridge was befriended by Dr Byrd who provided him with a home in a … Continue reading
The Government had confirmed its support for a new Trusts Act to replace the current Trustee Act 1956. However, don’t expect anything to happen fast. The Law Commission has made 51 recommendations and so far the Government has only endorsed one, which is the recommendation for a new Trusts Act. The remaining 50 are still … Continue reading
