18 Aug 2015
KEA TRUST COMPANY LTD v PUGACHEV [2015] NZHC 1960
- Citation
- [2015] NZHC 1960
- Court
- High Court
Where trustees facing uncertain and potentially void removal and where beneficiaries include minors seek directions and must comply with a foreign freezing order, the Court will permit a limited drawdown from trust funds to meet reasonable legal costs necessary to comply with reporting obligations imposed by the freezing order (subject to notifying the claimant's solicitors), will authorise substituted service on the foreign claimants with tight timetabling for any intervention, and will adjourn substantive costs and final determination pending further directions and disclosure.