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In the matter of the Estate of Hyman Marks the High Court was asked to approve a trustee fee of $5,000 per annum. By way of background as noted at [4]: “The trust fund was established under the Will of the late Hyman Marks, who died on 22 May 1895. Since then, various trustees have … Continue reading
In Stephens v Deans, which is an anonymised appeal from a decision of the Family Court, Anderson J upholds the Family Court decision that a statute barred debt remained a relationship property debt that could properly be deducted from the proceeds of sale of the property. The debt in question was a vendor loan of … Continue reading
This appeal to the Supreme Court addresses what rights or powers s in a family trust can properly be treated as “property” rights or interests falling within the ambit of the Property (Relationships) Act 1976 (the PRA). For the background see Weakly Fiduciary. The appeal was denied, the reasons for which are summarised at [125] … Continue reading
The question posed by the court in An application by Hoglie Trustees Limited as trustee of the Larry Robertson Family Trust was whether the Larry Robertson Family Trust (the Trust) was void from inception due to lack of certainty as to the Trust’s objects. Relevantly section 15 of the Trusts Act 2019 provide that: As … Continue reading
The current decision in the long-running case of Addleman v Lambie Trustee Limited & Ors relates primarily to whether the Court should order that the parties attend mediation pursuant to section 145 of the Trusts Act 2019. An appendix to the above decision (copied below) sets out a summary of Mrs Addleman’s concerns regarding the … Continue reading
As noted at [91] in Gatfield v Hinton: By way of wider observation in Gatfield v Hinton, Associate Judge Lester traverses the matters that will be taken into consideration when the Court is considering whether a matter should be referred to Alternative Dispute Resolution (ADR) pursuant to section 145 of the Trusts Act 2019. Relevantly … Continue reading
The background facts of NZ Trust Corporation Ltd v Bonnard Lawson Geneve SA & Ors are set out by Associate Judge Gardiner at [1] to [4] as follows: The issues for the Court to determined can be summarised as whether: The following time-line sets out key events that have lead to the proceedings before the … Continue reading
In New Zealand Beddoe applications are governed in the first instance by the High Court Rules, which do not extend to prospective costs orders by beneficiaries. Representation of VG Trustee Limited re the B Trust (Re the B Trust) considers whether beneficiaries should have their costs met on account of a successful Beddoe application brought … Continue reading
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
Merona Trustees Limited considers how the words “the children of the settlors” should be interpreted. To resolve the dispute as to whether these words mean: the trustees have sought directions pursuant to section 133 of the Trusts Act. Background facts Opinions A number of opinions were subsequently obtained regarding the position of Rob and later … Continue reading
Matters of Trust 