-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
The decision in Judd v Hawkes Bay Trustee Company Limited (see Another tributary in the trickle of constructive trust cases) has been upheld on appeal. By way of background Richard Hodgkinson and Michelle Judd were married for six and a half years. Over that period they lived in a property in Lane Road, Havelock North, … Continue reading
The background to Fawcett v Official Assignee is relatively straight-forward, as is the result. However, the highways and by-ways the decision takes to get there are a study in why very few people should be trustees, and even less would want to be. The case relates to a poorly constructed pedestrian bridge that was ultimately ordered … Continue reading
On 17 July 2016 the Sunday Star Times reported about a family at war over a mansion with an opening quote that read “Lawyers say the judiciary are increasingly overturning wills in family disputes.” The dispute ended up in the High Court, firstly regarding an application for the removal of the trustees and secondly a … Continue reading
The facts of FAI Money Limited v Crawley, which traverses, amongst other things, whether a trustee can be liable for a debt incurred under a power of attorney, are set out in the High Court decision discussed in 1 of 2 Trustees Personally Liable. By way of brief recap: Edward Johnston’s brother Richard Johnston who is an accountant, … Continue reading
In Shakespeare’s Henry IV, Part I when Prince Hal finds the cowardly Falstaff pretending to be dead on the battlefield, the prince assumes he has been killed. After the prince leaves the stage, Falstaff rationalizes “The better part of Valour, is Discretion; in the which better part, I haue saued my life” (spelling and punctuation … Continue reading
Beneficiaries of a trust – including a testamentary trust are entitled to information relating to the trust. In the Goodman v Campbell a minor beneficiary’s mother sought appointment as a litigation guardian following an executor’s refusal to provide information about the estate of which her minor son was the sole beneficiary. The trustee of the … Continue reading
Principles are important. But who should fund them? When acting as a trustee, it is generally accepted that the trustee will be reimbursed by the trust for any costs incurred. However, it is important to appreciate that this principle has a caveat – the costs must be reasonably incurred. New Zealand Māori Council v Foulkes … Continue reading
Professor Frances Moran has been attributed with lecturing her mainly male equity students at King’s Inns that “There are three roads to ruin in life, wine, women and becoming a trustee. The first two are at least enjoyable.” Not wishing to enter into a debate of the relative strengths of either sex to mislead and … Continue reading
Trusts are commonly anthropomorphised – my trust, the trust, his trust. At the very least the trust becomes a possessive noun rather than the inchoate mix of rights and obligations that a trust really represents. It is difficult of course, to separate out the parties. Because most of the time – who cares? Does it … Continue reading
Guarantees are a common part of commerce. In a practical sense they are often unavoidable. Shareholders guarantee loans to companies; settlors guarantee loans to trusts – there is a certain symmetry because the shareholder or settlor is able to ultimately benefit from the advance. But what about when the trustees who are asked for a guarantee cannot … Continue reading
Matters of Trust 