4 Jun 2020
MILLS v PML TRUSTEES LIMITED [2020] NZHC 1219
- Citation
- [2020] NZHC 1219
- Court
- High Court
Because the current trustee wished to retire and replacement without conditions risked ongoing conflict and depletion of trust assets, the Court permitted the defendant to retire with indemnity (except for deliberate wrongdoing), appointed Trafalgar Trustee Corporation Limited subject to conditions including an inquiry by Mr Langford into a $5,000 payment, ordered sale and winding up of the trust with equal distribution to beneficiaries subject to any adjustment, and allocated costs with specified contributions from the trust and balances payable by the plaintiff.