17 Jul 2018
SLATER v SLATER [2018] NZHC 1766
- Citation
- [2018] NZHC 1766
- Court
- High Court
The plaintiff was entitled to the transfer of the bare trust share portfolio. A trustee may be indemnified from trust assets for reasonable expenses, but indemnity is limited where the trustee unreasonably withheld transfer after the beneficiary offered indemnities. It was reasonable for the trustee to incur limited legal costs (up to $5,000) to obtain advice and consider indemnities in late 2017; larger litigation costs were not reasonably incurred. The Court awarded reimbursement to the trustee of $5,000 from the trust and fixed the plaintiff's costs at $2,000, and ordered distribution of t…