21 Dec 2017
CLEMENT v LUCAS [2017] NZHC 3278
- Citation
- [2017] NZHC 3278
- Court
- High Court
The Court set aside the trustees' initial decision to sell the trust properties and their in‑principle decision to distribute sale proceeds equally because the trustees failed to take into account relevant considerations central to the trust's purposes—specifically the settlors' intention to 'even the ledger' between beneficiaries and pre‑trust distributions—and that failure occurred before and independent of legal advice the trustees later obtained; the matter is remitted to the trustees to reconsider disposition having regard to settlors' purposes and pre‑trust distributions; the Court decl…