28 Feb 2018
RADFORD v MURDOCH [2018] NZHC 276
- Citation
- [2018] NZHC 276
- Court
- High Court
The Court granted directions under s66 Trustee Act 1956 interpreting clause 6(b)(iii) to allow the Fellowship to be awarded to any final year student at the Clinical School (including nursing, masters, biomedical sciences or similar courses) and clause 6(b)(vii) to permit Fellowships to average no more than one award per year over the duration of the trust (allowing additional awards to compensate for years with no award), because the trust held substantial capital (~$700,000), income was sufficient to support awards without capital erosion, the interpretation was consistent with the settlor'…