7 Aug 2020
COONEY v ST COLUMBANS MISSION SOCIETY OF LOWER HUTT [2020] NZHC 1958
- Citation
- [2020] NZHC 1958
- Court
- High Court
Because the sole beneficiaries consented, the trust produced minimal income from capital of $116,000, and winding up and equal capital distribution plainly advanced the beneficiaries' interests and accorded with the settlor's purpose, the court exercised its power under s64A Trustee Act 1956 to authorise winding up and distribution; trustees' costs ordered payable from trust assets prior to distribution.