This category contains 13 posts

Providing trust assets does not ensure later control

It may seem somewhat trite law that once a trust is settled, the settor loses the right, by virtue of having made that settlement, to control the trustees.  To put this another way, just because you are the source of the trust’s assets, you cannot determine how these assets are utilised.  This fundamental proposition of trust … Continue reading

Court appoints receiver to trust

In Bank of New Zealand v Rowley and Skinner [2012] NZHC 2835 the High Court determined that it could have the jurisdiction to liquidate a trust.  See Liquidation of trusts – more clever ways to winkle assets from trusts for the background facts. The matter has now been reconsidered, following service of the judgment referred to … Continue reading

Corporate trustees – whine whine whine

The recent decision in SW Trust Limited v Grandad’s Limited highlights, yet again, the number of corporate trustees operated by professionals that accept multiple trustee appointments but that do not appear to wish to be in the trustee business. In the judgment it is noted that: “First, the applicant is a corporate trustee. It was … Continue reading