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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
Arrangements that vary or terminate trusts are commonly (but not necessarily) recorded in deeds of family arrangement. That said, regardless of how any settlement is styled, to effect a change in accordance with the rule in Saunders v Vautier, or section 121 of the Trusts Act 2019, without the assistance of the Court, strict compliance … 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: Sheila and Kim (the Trustees) were the original trustees of a trust Sheila had the power to appoint new trustees … 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: Aaron Adams was seriously disabled following an overseas motor vehicle accident Compensation … 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 Gatfield v Hinton [2026] NZSC 60 … Continue reading
McKean v McKean Family Trustee Limited (Costs) is a costs decision following substantive findings. The key points of the judgment can be summarised as: the protagonists in the matter were entitled to be indemnified from the Trust for legal costs and disbursements in relation to proceedings to the extent that the costs were reasonably and … 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
“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
