30 Jun 2015
IN THE MATTER OF THE ESTATE OF KIM DOREEN VASEY [2015] NZHC 1491
- Citation
- [2015] NZHC 1491
- Court
- High Court
The Court granted approval under s66 (and indicated inherent parens patriae power) for the trustees to settle the minor beneficiary's potential entitlement by setting aside $75,000 on specified terms because the compromise reasonably balances the minor's likely entitlement and risks (including costs, increased debts, and competing claims) and avoids litigation disproportionate to the estate's value; provisional view was that clause 5.4 likely included both the separate $140,000 and half the remaining equity but a full hearing was unnecessary to approve the settlement.