19 Dec 2022
AKSINYA ENTERPRISES LIMITED v BHAGIRATH [2022] NZHC 3526
- Citation
- [2022] NZHC 3526
- Court
- High Court
The court removed the incapacitated trustee based on reliable psychiatric evidence that he lacked capacity and was unlikely to regain it, and removed inactive trustees who failed to protect trust assets; exercising the court's inherent jurisdiction and ss112/114 Trusts Act 2019 it appointed two independent trustees (Gaynor McLean and Gulab (George) Kanji), vested trust assets in them and granted indemnity protections to enable proper administration and to protect beneficiaries' interests.