20 Dec 2013
SIMPSON v JENKS [2013] NZHC 3533
- Citation
- [2013] NZHC 3533
- Court
- High Court
The October 2009 letter, given by Hubbard in terms that bound ASL, created a representational constraint and equitable estoppel preventing ASL (and Hubbard acting in ASL's name) from treating the respondent's funds as transferred out of ASL without her informed consent; accordingly ASL must recognise the respondent as a depositor/creditor as at the statutory managers' appointment and account to her for the balance and net interest; alternatively, assets realised from Hubbard commitments are impressed with a trust so exclusion would be unconscionable and cause unjust enrichment.