New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Trust accounting

  • 12 Oct 2011

    S CROSBY V LEVIN MALL LIMITED HC PMN CIV-2011-454-301

    Citation
    openlaw-3358da3c_611b_4319_b221_9dac429c6e2d.pdf
    Court
    High Court

    The court defined "net sale proceeds" as the gross sale price less repayment of outstanding mortgages and charges and less real estate commission and reasonable legal costs and reasonable costs and expenses properly incurred in preparing the property for sale; because respondent claimed significant unrecovered preparation costs without independent verification, the respondent must provide a detailed, verifiable assessment of those costs (and net rental revenue) within a specified timetable so the court can determine the correct amount to be paid into court under the prior order.

  • 23 Sept 2005

    ROSS & URLICH V ROSS & URLICH HC AK CIV 2004-404-4827

    Citation
    openlaw-ebe80148_af53_455f_a065_86f1b9ac35c1.pdf
    Court
    High Court

    The court granted the Tomlin order as sought with two agreed amendments: (1) permit sale of up to ten hectares of the farmland provided it does not adversely affect the farming operation or the security title; and (2) require plaintiffs to file notice of discontinuance forthwith upon satisfaction of clauses 1–4 with neither defendant nor Mr Vanhoutte to seek costs; trustees ordered to provide annual accounts; all further matters stayed except for carrying the settlement into effect.