5 Aug 2011
SILVER FERN FARMS LIMITED V SOUTHERN DEER CORPORATION LIMITED HC DUN CIV-2009-412-000319
- Citation
- openlaw-2cb7ea65_50dd_4f3d_abcb_b3b2414c567e.pdf
- Court
- High Court
Southern Deer held the NZ Deer Farms liquidation proceeds as a bare trustee obliged to follow Silver Fern's directions; equitable set-off was excluded by the trust terms and clear implication given the parties' agreement and purpose of the trusteeship; the corporate veil should not be lifted and agency did not negate trustee duties; summary judgment for Silver Fern for $1,449,038.89 with interest was therefore appropriate.