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Re Candida Trust provides practical guidance as to the scope of section 125 of the Trusts Act 2019 and the use of the High Court’s inherent jurisdiction to permit trustees to sign a new restated trust deed that incorporates varied terms. Background facts Waiver pursuant to section 125 of the Trusts Act As set out … 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
McLauglin v McLauglin relates to claims regarding the management of a family trust and the cost consequences of the proceeds, which are significant. The background of the matter is summarised by French J, who delivered the Court of Appeal’s decision as follows: The trust that is the subject of these proceedings, the Ashely Trust (the … Continue reading
The background to Duffy J’s 2022 decision in Addleman v Lambie Trustee Limited is set out at [1] and [5] as follows: For further background see It’s mine said the trustee, all mine and Disclosure request declined. The decision raises interesting procedural questions regarding the application for the appointment of a receiver when as noted … 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
The background to Turvey v Vance relates to diametrically opposed intra-family division with respect to the FB Turvey Family Trust and the P Turvey Family Trust (the Trusts). The Trusts were mirror trusts and as such the settlor of each of the trusts was not able to benefit from the trust that person settled. In … Continue reading
A final beneficiary has a contingent proprietary right, the value of which (if any) can only be determined on the final vesting date. While such a right can be treated as simply a right to receive trust assets on a final vesting, the status of having such a right can elevate the position of a … Continue reading
The decision in Re Tauranga Energy Consumer Trust may on first blush appear esoteric and outside the mainstream. However, the decision warrants careful reading as it is one of the few cases to date to consider default duties imposed by the Trusts Act 2019 in a practical construct. The case relates to a proposed restructure … Continue reading
Being a trustee is hard. Hallmark persistently fails to produce a Love your trustee card. There is no national, or international trustee day. It can be hard slog. And yet, when the beneficiaries say we don’t want you, we want someone else, trustees turn up all guns blazing overflowing with umbradge. The difficulty is knowing … Continue reading
Matters of Trust 