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The background to Taranaki Community Accountability Society Inc v Ussher is an unsuccessful application for an interim injunction and a prospective costs order. The applicant had sought to restrain the trustees of the Toi Foundation (the Foundation) from voting on a proposed sale of shares in TSB Bank and requiring the Foundation to apply for … Continue reading
The High Court decision in Re Neal Grenville Johnson Trust (the Trust) reflects a practical approach to the termination of a trust where the trustee has no discretion to distribute capital and there is no power to bring forward the vesting day, which is still 32 years away. The terms of the Trust provided that … Continue reading
In Baker v Humphreys Mr Baker sought orders confirming his appointment as sole trustee and vesting trust property in him. The background details need consideration to put the application into context. These are summarised as: By the time Sheila lost capacity the Trusts Act 2019 had come into effect. Section 104 of the Trusts Act … Continue reading
Aaron Adams Trustee Ltd v Jones relates to an application for blessing order to distribute the assets of a substantial discretionary trust for the benefit of persons and charities who were not previously named as beneficiaries of the trust. By way of background: The Trustee has sought directions, notwithstanding that there is no live dispute. … Continue reading
In an application for a blessing order by the trustees of the Palliser Family Trust (the Trust), the High Court dispensed with service on a wide group of beneficiaries and consented to the proposed settlement on behalf of these beneficiaries who were considered to have no real prospect of benefitting from the Trust. The Court: … Continue reading
The Supreme Court has denied leave to appeal the Court of Appeal judgment in Gatfield v Hinton, that upheld a High Court decision ordering tethered mediation and arbitration. For background see May and New is not a reason not to. As noted by the Supreme Court at [9]: References
In Re Arcus the Court consents to a variation of trust on behalf of minor beneficiaries. The trust in question had a maximum duration of 50 years. No reason was given for this. The trustees were of the view that as the trust had been successful and accrued a significant body of of assets and … Continue reading
Vincent v Vincent Family corproate Trust Limited concerns a dispute regarding who should benefit from two family trusts in circumstances where the Court is asked whether whether whāngai children shoud be included in the class of grandchildren. As noted at [7] to [10]: [7] The Trusts distinguish between income and capital beneficiaries. Only capital beneficiaries share … Continue reading
In the Matter of the Testamentary Trust of Hanning relates to an application to terminate a testamentary trust pursuant to section 121 of the Trusts Act 2019 and for an order pursuant to section 124 of the Trusts Act approving the application on behalf of minor or future beneficiaries. The trust in question arose under … Continue reading
The Court of Appeal decision in Gatfield v Hinton represents an important waypoint regarding the ADR provisions of the Trusts Act 2019. The decision traverses a range of matters including: ADR can only be ordered in respect of internal matters that do not relate to the validity of all or part of a trust. In … Continue reading
Matters of Trust 