22 Nov 2021
ARMANI v ARMANI [2021] NZHC 3145
- Citation
- [2021] NZHC 3145
- Court
- High Court
Applicant had standing as an interested person but the court declined to appoint a receiver because appointment was not shown to be reasonably necessary under s138 of the Trusts Act nor required under the inherent jurisdiction: perceived mismanagement had been substantially addressed, Westpac indicated refinance could be considered on commercial terms, alternative remedies existed, the assets were not in imminent peril, and the costs and intrusiveness of receivership were not justified on the evidence before the court.