19 Oct 2023
WALLACE v WALLACE [2023] NZHC 2928
- Citation
- [2023] NZHC 2928
- Court
- High Court
The Court held that the trustees were entitled to seek directions under s133 and, applying Re Honoris Trust principles and statutory guidance, found no basis to freeze assets or dismiss the proceeding; discretionary beneficiaries had no vested interest absent appointment, trustees were not deadlocked or conflicted to a degree requiring surrender of discretion, and it was appropriate to bring the Vesting Day forward and order distribution because the fund was modest, the Appointor had not appointed discretionary beneficiaries, and distribution would avoid further family conflict.