Application by Winklemann in respect of Te Ngakau Trust

Application by Winklemann in respect of Te Ngakau Trust

The Court appointed the applicant as sole trustee under s 51 because appointment was necessary to enable administration and disposition of trust assets held in the solicitor trust account; it granted directions under s 66 to sell the NETCOR shares at the best available price, transfer the O-A-Tia Publishers credit to the Trust, pay solicitor costs, distribute remaining funds to specified charities and wind up the Trust due to the settlor's death, absence of a deed, lack of executor interest and absence of opposition, such directions being necessary and appropriate to give effect to the settlor's intentions.

Citation
openlaw-4c7762da_90c0_40bc_afab_0107025a55b4.pdf
Parties
Applicant (solicitor): Brent Retford Winkelmann; Trust: Te Ngakau Trust
Court
High Court
Jurisdiction
New Zealand
Judgment Date
23 December 2020
Procedural Posture
Application Under the Trustee Act 1956 / Application for Appointment of Trustee and Directions; Hearing and Judgment
Outcome
Application granted; orders made appointing applicant as trustee and directing sale and disposition of trust assets and subsequent winding up of the Trust
Legal Topics
Appointment of Trustee, Court Directions to Trustees, Disposition of Trust Property, Winding Up Trust, Payments to Charities, Solicitor Trust Account
Trusts Equity Property Law Civil Procedure Appointment of Trustee Court Directions to Trustees Disposition of Trust Property Winding Up Trust +2 more

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Parties

Brent Retford Winkelmann

Applicant (solicitor)

Te Ngakau Trust

Trust

Procedural Posture

Application Under the Trustee Act 1956 / Application for Appointment of Trustee and Directions; Hearing and Judgment

Legal Issues

  1. 1 Whether the Court should appoint a new trustee under s 51 Trustee Act 1956
  2. 2 Whether the Court should give directions under s 66 Trustee Act 1956 to dispose of trust property
  3. 3 Whether trust assets can be sold and credits transferred in absence of trust deed and settlor

Ratio Decidendi

The Court appointed the applicant as sole trustee under s 51 because appointment was necessary to enable administration and disposition of trust assets held in the solicitor trust account; it granted directions under s 66 to sell the NETCOR shares at the best available price, transfer the O-A-Tia Publishers credit to the Trust, pay solicitor costs, distribute remaining funds to specified charities and wind up the Trust due to the settlor's death, absence of a deed, lack of executor interest and absence of opposition, such directions being necessary and appropriate to give effect to the settlor's intentions.

Court Disposition

Application granted; orders made appointing applicant as trustee and directing sale and disposition of trust assets and subsequent winding up of the Trust

Orders

  • Appoint Brent Retford Winkelmann of Taupō, solicitor, as sole trustee of Te Ngakau Trust pursuant to s 51 Trustee Act 1956
  • Direct Mr Winkelmann pursuant to s 66 Trustee Act 1956 to sell the Trust's NETCOR shares at the best available price (the $5,000 currently on offer)