10 Feb 2021
McGUIRE v EARL [2021] NZHC 129
- Citation
- [2021] NZHC 129
- Court
- High Court
Because the trustees unreasonably and negligently refused adequate disclosure despite a revealed unauthorised distribution, the plaintiff was awarded costs on a 2B basis with a 50% uplift; trustees must personally pay two-thirds of that costs award with one-third to be paid from the Trust fund, and trustees bear two-thirds of their own costs with indemnity from the Trust limited to one-third, as a proportionate remedy balancing detriment to beneficiaries and the public interest in not deterring trustees.