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MacIntosh v Thomas relates to the administration of an estate where there has been considerable disharmony between the beneficiaries and the trustees in circumstances where the court has acknowledged that the trustees have displayed “displayed considerable patience, forbearance and professionalism in dealing with the behaviour of the [beneficiaries] …” The decision is largely fact-specific. However, usefully … Continue reading
In Butterfield v Sundberg the applicant seeks directions under s 66 of the Trustee Act 1956 to be commenced by way of originating application pursuant to Part 19 of the High Court Rules to allow the final distribution of the trust estate’s modest assets. The grounds for the application are set out at [15] as follows: … Continue reading
Given the new presumption in the Trusts Act 2019 that, with effect from 30 January 2021, trustees will give basic trust information to every beneficiary, it can be presumed that many trustees will be looking to cull trust beneficiaries to ensure trusts comply with the settlor or settlors’ intentions, whether or not these are expressed … 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
Daisley v Ark Contractors Limited relates to a commercial venture that came into fruition over a decade ago. The venture involved transfer of properties owned by the first (Daisley) and second (SDD Limited) plaintiffs, which were about to be sold at mortgagee auction. The Kellers (the second defendants) contributed capital and setting up the first … Continue reading
But it is still property! The High Court decision in Ruscoe v Cryptopia Limited (In Liquidation) concerning an application for directions by the liquidators of a cryptocurrency trading exchange online platform, builds on concepts of property explored in Clayton v Clayton. By way of background, Cryptopia Limited (Cryptopia) was placed in liquidation in May 2019 by its … Continue reading
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
Trusts are a common form of asset ownership. However, the rights and obligations associated with trusts, and even simple matters such as contracting with trusts are not always well understood. On 26 February 2020 Vicki Ammundsen is presenting a webinar on trust fundamentals. The webinar will introduce basic trust concepts and will use a case … Continue reading
Ten years ago, very few New Zealand practitioners were aware of or made use of Beddoe applications. More recently Beddoe applications have become increasingly important for trustees who are wanting to protect themselves in regard to costs in trust litigation. However, there are some very important points trustees need to bear in mind regarding Beddoe … Continue reading
Families are funny old things. Blood is thicker than water (fact). But when it comes to who should get the most after Mum and Dad have died, perceptions can become quite skewed. In Ngui v Ngui the surviving parent left her estate to her four children in equal shares. So far so fair. However, one … Continue reading
Matters of Trust 