RE THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED HC ROT CIV-2012-463-95

RE THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED HC ROT CIV-2012-463-95

Given the former trustee was struck off the Companies Register, the applicant demonstrated entitlement to appointment under s 51 and to vest the specified unit title under s 52, beneficiaries were served and did not oppose, and the supporting affidavit established grounds for the orders; therefore the Court granted the appointment and vesting orders.

Citation
openlaw-bf674aec_9b98_488a_9426_94cc35e1331b.pdf
Parties
Applicant and Proposed Trustee: The New Zealand Guardian Trust Company Limited; Former Trustee: Algin Trust Services Limited; Former Trustee: Clement Basil Fischer
Court
High Court
Jurisdiction
New Zealand
Judgment Date
5 December 2012
Procedural Posture
Application Under the Trustee Act 1956 / Originating Application for Appointment and Vesting (s 51 and S 52)
Outcome
Application granted; orders made as sought
Legal Topics
Appointment of Trustee, Vesting of Land, Struck Off Company, Service and Notice
Trusts Property Civil Procedure Appointment of Trustee Vesting of Land Struck Off Company Service and Notice

Case Brief

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Parties

The New Zealand Guardian Trust Company Limited

Applicant and Proposed Trustee

Algin Trust Services Limited

Former Trustee

Clement Basil Fischer

Former Trustee

Procedural Posture

Application Under the Trustee Act 1956 / Originating Application for Appointment and Vesting (s 51 and S 52)

Legal Issues

  1. 1 Whether the Court should appoint a new trustee under s 51 Trustee Act 1956
  2. 2 Whether land should be vested in the proposed trustee under s 52 Trustee Act 1956
  3. 3 Whether the application could proceed without notice and whether service on beneficiaries was adequate

Ratio Decidendi

Given the former trustee was struck off the Companies Register, the applicant demonstrated entitlement to appointment under s 51 and to vest the specified unit title under s 52, beneficiaries were served and did not oppose, and the supporting affidavit established grounds for the orders; therefore the Court granted the appointment and vesting orders.

Court Disposition

Application granted; orders made as sought

Orders

  • Appointment of The New Zealand Guardian Trust Company Limited as trustee of the Fischer Trust pursuant to s 51 Trustee Act 1956 in substitution for Algin Trust Services Limited and Clement Basil Fischer
  • Vesting of Unit 50 and 1/3 share of Accessory Unit 91 Deposited Plan 306180 comprised in Computer Unit Title Register 24301 in The New Zealand Guardian Trust Company Limited as trustee of the Fischer Trust pursuant to s 52 Trustee Act 1956