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Trustee liability

This category contains 122 posts

Damp Squib

Being a trustee is increasingly more skittles than beer. “Beddoe orders” are an avenue for trustees to pursue or defend proceedings without facing personal liability. McCallum v McCallum concerns an appeal against partial Beddoe orders. At the opening of his novel Anna Karenina, the Russian novelist Tolstoy writes “All Happy families resemble one another, but … Continue reading

Turning of the tide?

McGuire v Earl is a successful application for the following trust information: statements of accounts copies of all Minutes and Resolutions any documents pertaining to any distributions all documents pertaining to any gifting or debt incurred, and bank statements for all bank accounts. The trust in question was settled by Mr McGuire’s father and Mr … Continue reading

Invalidity upheld

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

Two heads are not better than one

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

Blessing of one

PR Law Queenstown No 1 Trustees Limited (In Liquidation) relates to an urgent application by PR Law Queenstown No 1 Trustees Limited (In Liquidation) (the Company) who is one of two corporate trustees for directions under s 66 of the Trustee Act 1956 for the sale of trust owned shares to meet liabilities incurred as … Continue reading

Disclosure denied

In Jacomb v Jacomb Cooke J provides a considered assessment of disclosure in the context of a troubled and disenfranchised beneficiary. The case highlights the need for careful analysis of facts when seeking disclosure, the relevant principles, and importantly given that the Trusts Act 2019 will come into full force and effect on 30 January … Continue reading

Clearing the decks

Walker v Walker is one of many cases that finds itself before the courts requiring assistance with the appointment, retirement or removal of trustees as a result of trustee incapacity. However, one aspect of the case that warrants further interest is the “possibility that former trustees have technically remained trustees because they were not properly … Continue reading

Cost of failure

The proceedings in Bone v Tuck relate to an application for the removal of Mr Tuck as a trustee of the Tuck Family Trust (the Trust).  The background can be explained as follows: [3] Ms Bone alleged that Mr Tuck had not acted appropriately as a trustee and ought to be removed. [4] Mr Tuck … Continue reading

Whose advice is it?

The Supreme Court decision granting leave to appeal the Court of Appeal decision regarding the disclosure of legal opinions and advice obtained by the trustees in Addleman v Lambie Trustee Limited (see Rights in information prevail) raises the thorny question, regarding how advice belongs to, or must be disclosed to, when legal advice is sought … Continue reading

Current Trust Issues

On 11 December 2019, Vicki Ammundsen is presenting a webinar Trust Series 2019 – Current Trust Issues.  This webinar will provide an up to date consideration of the issues facing trustees and their advisers in a rapidly changing trust landscape. The webinar will be complimented with materials that expand on the matters discussed. HIGHLIGHTS This … Continue reading

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