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Re Borthwick relates to an application by trustees to enter into a settlement agreement and to make the necessary variations of trust to effect the agreement. The background of the matter features a trust restructure that was challenged by a disaffected beneficiary. The application before the court calls upon the court’s supervisory capacity pursuant to section 124 … Continue reading
Smale v Lowe & Ors relates to an application for summary judgment for the repayment of loans between family trusts. As set out at [1] to [2]: A number of matters were put to the court by Mr Lowe who was not open to repayment of the debt owing to the Anzac Trustees. Are the deeds … Continue reading
Phillips v Heremaia relates to two sisters engaged in litigation with respect to their father’s estate. Although the matter settled at a judicial settlement conference not agreement was reached with respect to costs, which are the subject of this judgment. The following at [3] and [4] sets the tone for the decision: Rule 15.23 of the … Continue reading
The bright-line test will return to a 2 year period effective from 1 July 2024. Finance Minister Nicola Willis has advised as part of the new coalition Government’s mini-budget: “Today I am announcing our immediate decision to bring the brightline test for residential property back to two years, effective from 1 July 2024. Removing this … Continue reading
Re Bleeker relates to an application by the trustees of the Makikihi Library Hall Trust (the Trust) for orders land known as the Makikihi Hall, vest in them. The original trustees of the Trust were Mr Crowe who died in 2005 and Mr Fowler who died in 2015. When powers of appointment are derived through a will … Continue reading
In Jongeneel v Schaake Powell J traverses the parameters of deadlock that would support the Court exercising powers to remove existing trustees and appoint a replacement trustee pursuant to sections 112 and 114 of the Trusts Act 2019, By way of background Ms Jongeneel and Mr Schaake settled the J A G and A J … Continue reading
The key facts of Tata v Abrams are set out in [2] of the judgment as follows: … Donna and Reginald’s mother, Violet Tata (Violet), passed away on 19 March 2008. Donna was one of two executors appointed under Violet’s Will. The other executor, Ms Judy Kaka, passed away in 2016. Donna assumed responsibility for … Continue reading
Unless the terms of a trust provide otherwise trustees act gratuitously. See section 37 of the Trusts Act 2019. Importantly, where the terms of a trust do not provide for payment to trustees, the Court can order payment of remuneration pursuant to section pursuant to section 139 of the Trusts Act, which provides as follows: … Continue reading
Better Public Media Trust (the Trust) appeals against a High Court decision declining its registration as a charitable trust. The key issue on appeal as noted at [2] is: As noted at [5]: “… We are required to assess the facts and apply the relevant law to those facts. In this case, that involves us … Continue reading
The liquidation of Cryptopia Limited, which rana cryptocurrency exchange, is complex and involves “… complex arrangements regarding around 370 functioning cryptocurrencies owned by some 960,000 holders of accounts with positive balances in around 180 countries.” Cryptocurrency is property that can be held by a trust. See Can’t see it, cant’s touch it, can’t explain it. … Continue reading
Matters of Trust 