BLACK AND PERPETUAL TRUST LTD v BLACK [2014] NZHC 2165

BLACK AND PERPETUAL TRUST LTD v BLACK [2014] NZHC 2165

The amended trust deed was approved because the applicants produced an amended draft that addressed the Court's prior reservations; the deed now provides for the merger of the AHC Nutt Trust assets with the CAC Trust and the Court made the order in accordance with the submitted draft order.

Citation
[2014] NZHC 2165
Parties
Plaintiff: Catherine Black; Plaintiff: Perpetual Trust Limited; First Defendant: Catherine Black; Second Defendant: Michael Henry Nutt; Third Defendant: Annabel Catherine Black; Fourth Defendant: Caroline Cecilia Marsh
Court
High Court
Jurisdiction
New Zealand
Judgment Date
9 September 2014
Procedural Posture
Trustee Act Application to Amend Trust Deed / Judgment Approving Amendment
Outcome
Application granted; amendment of the AHC Nutt Children Trust Deed approved and order made in terms of the draft order attached to the judgment
Legal Topics
Amendment of Trust Deed, Trust Variation, Merger of Trust Assets, Court Approval of Trust Changes
Trusts Equity Procedural Law Amendment of Trust Deed Trust Variation Merger of Trust Assets Court Approval of Trust Changes

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Parties

Catherine Black

Plaintiff

Perpetual Trust Limited

Plaintiff

Catherine Black

First Defendant

Michael Henry Nutt

Second Defendant

Annabel Catherine Black

Third Defendant

Caroline Cecilia Marsh

Fourth Defendant

Procedural Posture

Trustee Act Application to Amend Trust Deed / Judgment Approving Amendment

Legal Issues

  1. 1 Whether the Court should approve the proposed amendment to the AHC Nutt Children Trust Deed under the Trustee Act
  2. 2 Whether the amended terms addressed the Court's earlier reservations and adequately protected beneficiaries, including children and unborn children
  3. 3 Whether the order should be made in the terms of the draft order submitted

Ratio Decidendi

The amended trust deed was approved because the applicants produced an amended draft that addressed the Court's prior reservations; the deed now provides for the merger of the AHC Nutt Trust assets with the CAC Trust and the Court made the order in accordance with the submitted draft order.

Court Disposition

Application granted; amendment of the AHC Nutt Children Trust Deed approved and order made in terms of the draft order attached to the judgment

Orders

  • Order approving the amendment of the AHC Nutt Children Trust Deed dated 30 June 1959 to provide for the AHC Nutt Trust assets to be merged with the CAC Trust
  • Order made in accordance with the draft order attached to the judgment and the amended Trust Deed attached to the judgment