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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
Ryan v Lobb relates to the interpretation of a resettlement clause contained in the deed of trust for the Lothbury Trust (the Trust) that expressly provided for a resettlement on written notice in the event that the Settlors separated, or their marriage was legally dissolved. Such notice was given by Ms Ryan in 2017 following … Continue reading
Webb v Webb relates to whether a tax debt owed by the former husband in New Zealand is enforceable in the Cook Islands, and what that means in the context of the division of matrimonial property in the Cook Islands; the validity of two trusts settled on somewhat unusual terms; and valuation considerations when a … Continue reading
The facts of McAtamney v McAtamney are simple.Frank McAtamney was settlor and appointor of the Waimarie Second Family Trust. Notwithstanding that Frank’s late wife had no power of appointment, Frank and his wife twice purported to appoint new trustees.As set out at [11] and [12]:[11] Frank has now received legal advice that those deeds of … Continue reading
The proceedings in McLaughlin v McLaughlin relate to a dispute between the beneficiaries and trustees of the Ashley Trust (the Trust) and whether there should be an interim injunction to prevent the trustees from proceeding with the next stage of a development of trust property. By way of background see A little light on Beddoe … Continue reading
Triezenberg v Mason (NO 3, recalled and reissued on 6 September 2019) chronicles the cost of a battle for the control of two family trusts. In earlier decisions (see Loss of Morale and Buyer’s Remorse) Mr Mason was removed as a trustee of two trusts settled by him and his wife, and then later was stripped of his Appointor … Continue reading
In Godfrey v McCormick Nation J held that an attorney under an enduring power of attorney can not exercise powers of appointment even if held in a personal capacity. This is inconvenient where there is incapacity. While this will likely be addressed by the trustee appointment and removal provisions in the Trusts Act 2019 (following … Continue reading
Triezenberg v Mason (As to power and appointment and costs) follows the earlier trustee removal decision. See Buyer’s remorse. By way of background the High Court removed Mr Mason and his incapacitated wife as trustees of two family trusts. A rift had occurred between the competent trustees that had resulted in significant dysfunction. No orders … Continue reading
Trusts can seem like a great idea. And then one day a settlor can be confronted with the reality of the loss of control and cast around for someone to blame. In addressing the realities of trust ownership, the exercise of powers of removal and appointment can offer a solution to issues with the dynamics between … Continue reading
Bean v Bean is a an application to strike out a Family Protection Act 1955 (FPA) claim on the basis that it has no prospect of success. The bar is set high for such a claim. While any such claim will depend on its own facts, Bean v Bean is an interesting study of the procedural and tactical aspects … Continue reading
Matters of Trust 