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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
Editor’s note: This bill was withdrawn on 1 September 2022. The bill was reintroduced as the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Bill (No 2) 164-1 (2022), Government Bill Contents – New Zealand Legislation on 8 September 2022 The remedial matters in the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial … Continue reading
The Supreme Court has overturned the Court of Appeal decision Family First New Zealand v Attorney-General. See Family First to keep the home fires burning. The history of this case is complex. On 15 April 2013 the (then) Charities Registration Board resolved to de-register Family First New Zealand (Family First) as a registered charity on … Continue reading
The trustees of The Elizabeth Ann Bensaude Family Trust (NO. 2) Trust (the Bensaude Trust) wish to resettle the assets of that trust onto a new trust, the JJ Family Trust. The settlor of the Bensaude Trust was Elizabeth Bensaude’s mother. Elizabeth Bensaude was the settlor of the JJ Family Trust. The Bensaude Trust is … Continue reading
Grammarist states that “The road to hell is paved with good intentions” means that it is not enough to simply mean to do well, one must take action to do well. A good intention is meaningless unless it is followed by a good action. It would be difficult to find a more comparable case as an example … Continue reading
The Estate of the Late J.D. Hanson also referred to as Cohen v Kerr relates to long-term asset and estate planning intended by the deceased to ensure that he died “neatly.” His commitment to this was such that a Neatly Board was established. However, as demonstrated in the Estate of the Late J.D. Hanson, the … Continue reading
Section 182 of the Family Proceedings Act 1980, provides that the court has the power to vary the terms of a nuptial settlement where the parties’ marriage or civil union comes to an end. The seminal cases on section 182 are Ward v Ward and Clayton v Clayton [Claymark Trust]. These cases have been clear … Continue reading
Matters of Trust 