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Section 118 of the Trusts Act 2019, which provides that persons who become trustees may complete any formal requirements necessary for the divesting and vesting of trust property on behalf of a former trustee who loses capacity to perform the functions of a trustee, fails or refuses to assist in any transfer. However, where a … Continue reading
An undischarged bankrupt can only be appointed as a trustee with court consent. In an Application by Peter-Richard Prescott for appointment as a trustee the Court considers an application by a trust’s “Principal Family Member” who holds the power of appointment and wishes to appoint himself as a trustee notwithstanding that he is an undischarged … Continue reading
The on-going proceedings in Singh v Singh relate to the Calvary Indian Assembly of God (Calvary), which has been established as a charitable trust (the Trust) with a board of trustees who hold the Trust’s assets. Separately, Calvary is an incorporated society with a board responsible for the church’s management and organisation. At the relevant … Continue reading
Booth and Magniness v Rahal relates to a successful application for the appointment of a receiver to the First Trust (the Trust). The Trust’s original trustee was First Trust Limited (the Company). The background is set out by Gault J at [3] to [9] as follows: [3] On 28 April 2017, the Company was incorporated. … Continue reading
Scott v Chamley relates to an application for the removal of trustees and the appointment of replacement trustees. In this case it was not disputed that the former trustees should be removed and replaced. The question for the Court related to the new trustee or trustees to be appointed. The key points can be summarised … Continue reading
Refrigerant Recovery NZ Limited v the Trust for the Destruction of Synthetic Refrigerants relates to a Beddoe order application. The substantive claim challenges the validity of a trust restructure and decisions made by the former trustee’s directors to implement the restructure. The restructure was brought about to address reforms to the product stewardship schemes (one … Continue reading
Testamentary trusts arise in many circumstances and for many reasons. In Castle Trustees Limited the deceased provided for the residue of his estate to provide income for his children throughout their lives with a 1/4 share of the total residuary estate being distributed in equal shares to the grandchildren following the death of each child. … Continue reading
“Retaining” the trust when a relationship ends is often not as straight-forward as the relevant parties might consider. This is highlighted in Collinson v Collinson & Co Limited where orders were sought for variation to a trust to allow the inclusion of one the settlor’s child and a any future children with his new party. … Continue reading
Innes v Darlow relates to an application for an order referring the parties to mediation pursuant to section 145 of the Trusts Act 2019. The background of the matter is set out at [13] as follows: “The plaintiff alleges that [her parents] (who were two of the three trustees of the Trust) agreed, promised or … Continue reading
In Trustees Executors Limited v Poppe, Walker J explores the variation of a will against a background of a challenge as to capacity and an allegation of undue influence. There are two wills in question, one made in 2016 and one made in 2019. The primary difference is that the 2019 will provides that a … Continue reading
Matters of Trust 