27 Sept 2013
BAKER v WAIMAKUKU WHANAU TRUST BOARD INCORPORATED [2013] NZHC 2530
- Citation
- [2013] NZHC 2530
- Court
- High Court
The Court has jurisdiction under s64 Trustee Act 1956 to authorise completion of a comprehensive trust deed to fill the vacuum created by the lack of detailed governing terms; the proposed deed (as modified by the Court) is appropriate and proportionate, beneficiaries include descendants (including adopted), capital is fixed at the original principal ($306,522.90), trustees' interim appointments are authorised with elections in 2014, audits and reporting are required, trustees entitled to recover reasonable costs of the application from the fund, and trustees' indemnity excludes bad faith.