18 Dec 2019
GLASGOW HARLEY TRUSTEE LIMITED v MCLAUGHLIN [2019] NZHC 3385
- Citation
- [2019] NZHC 3385
- Court
- High Court
Court held trustees entitled to indemnity from the trust for reasonable costs of the Beddoe application because defending the second cause of action (challenge to the trust's future) was in the best interests of the trust; however indemnity was reduced to exclude costs attributable to hostile/substantive litigation and excessive items. Beneficiaries were partially indemnified (50% of their claimed reasonable costs) and interested parties were awarded modest indemnities. Determination of the validity and full effect of the trustee indemnity clause in the deed reserved for substantive proceedin…