4 Apr 2012
DAVIDSON V ISRAEL HC AK CIV-2011-404-553
- Citation
- openlaw-086a3172_2474_4c94_aa09_6ff66cd90974.pdf
- Court
- High Court
The Court exercised its discretion under s51(1) Trustee Act 1956 and its inherent equitable jurisdiction to appoint Francis William Bedford as sole trustee and to vary the trust deed because the trusteeship was effectively vacant or compromised, the trust's affairs were in disarray with a real risk of loss of the sole remaining asset to creditors, the purported corporate trustee lacked legal recognition, and an independent volunteer trustee was necessary to protect the beneficiaries and preserve trust assets.