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The Supreme Court has granted leave to appeal the decision of the Court of Appeal in Legler v Formannoij. For background see The proper corporate trustee and No fraud here. References:
Cooper v Pinney is a second appeal and cross-appeal, by leave, from a decision of the Family Court that ascertained relationship and separate property following a relationship break down. At the heart of the matter was the treatment of a discretionary trust settled during the relationship to receive property by way of resettlement from a … Continue reading
The most recent decision in the long-running Lambie Trustee Limited v Addleman relates to costs on account of a judgment of the Supreme Court delivered in 1 June 2021. In that judgment as noted in the case in hand at [1] “.. with one clarification, the Courtdismissed an appeal brought by Lambie Trustee Ltd (LTL). … Continue reading
The background to Legler v Formannoij is set out in No fraud here. For practical purposes the relevant background is canvassed at [24] as follows: Fundamentally Legler v Formannoij considers whether the appointment of a corporate trustee of which a beneficiary is the sole director is improper. This question needs to be considered in light … Continue reading
The background to FFP Trustee (NZ) Limited v Peng is complicated. There are two applications before the courts, on relating to a restructuring proposal and the other relating to forfeiture of certain trust assets and directions regarding service. By way of background: TFFP sought leave to commence the current application by way of originating application. … Continue reading
By way of background in Vincent Family Corporate Trust Limited (as trustee of the ET and P Vincent Trusts) as noted by Van Bohemen J (above and below): In Vincent Family Corporate Trustee the parties were urged to find resolution. When this was not possible the court was required to determine matters. Helpfully, Van Bohemen … Continue reading
Legler v Formannoij relates to a spirited challenge to the appointment of a corporate trustee to act as the sole trustee of a trust. The arguments put to the court included the contention that this was a fraud on a power as the director and one of the two shareholders was formerly a trustee and … Continue reading
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
Geneva Trust Company v Tchenguiz is one of many judgments of the Jersey Royal Court that relate to the Tchenguiz Trusts. In this case the Geneva Trust Company (Geneva) sought reimbursement of costs it incurred defending proceedings brought against it in the English High Court. A brief history of the matter is set out in the … Continue reading
The background of this matter is set out at [1], [2], [3] and [4] of the High Court judgment as follows: [1] The plaintiff, Camray Farms Ltd (Camray), and the second defendant, the Gordon Moore Trust (GMT), each claim priority to the proceeds of sale of properties in Ohaupo known as the Neighbouring Property and … Continue reading
Matters of Trust 