20 Dec 2021
RE MACALISTER [2021] NZHC 3572
- Citation
- [2021] NZHC 3572
- Court
- High Court
Because all adult beneficiaries consented via the Deed of Settlement, the proposed variation (addition of clause 5.3) did not remove any vested interest of discretionary beneficiaries, the minor beneficiaries' interests were adequately represented by their parents, the trustees had power to sell under the deed and the orders were necessary and appropriate to implement a negotiated, interdependent settlement and wind up the trust, the Court exercised its discretion under s124 and s133 to approve the variation and direct the sale and distributions as stipulated in the Deed of Settlement.