6 Apr 2023
RYAN v LOBB [2023] NZHC 689
- Citation
- [2023] NZHC 689
- Court
- High Court
Clause 2.5(3) must be read and applied primarily by reference to the settlors' financial contributions as recorded in the contemporaneous trust deeds and accounts (including gifts/forgiveness of debt); subjective or unilateral post‑settlement claims (labour, project management, payments via LML, GST refunds) do not alter entitlement under that clause. The Court may exercise the trustees' mandatory resettlement power where no suitable trustees exist and implement resettlement. Applying those principles, assets (other than watches/jewellery and subject to valuation adjustments for the antique f…