7 Sept 2020
REID v CASTELTON-REID [2020] NZHC 2313
- Citation
- [2020] NZHC 2313
- Court
- High Court
The Court accepted the Court of Appeal ruling that the $1,700,000 created a resulting trust in plaintiff's favour; however defendant proved equitable estoppel in respect of the capital (plaintiff represented the funds were part of the deceased's estate, defendant reasonably relied and suffered detriment), so plaintiff cannot recover the capital sums; estoppel does not extend to income generated by the mixed fund, which is to be divided equally after tax adjustment; defendant not liable for $800,000 paid to daughter; defendant ordered to pay plaintiff NZD 417,414.58 (plaintiff's half of net in…