27 Jul 2018
LITTLE v HOWICK TRUSTEE DL LTD AS TRUSTEE OF THE WOODSIDE TRUST [2018] NZHC 1884
- Citation
- [2018] NZHC 1884
- Court
- High Court
Section 68 does not extend to discretionary beneficiaries because their interest is only an expectancy; the plaintiff was estopped by the 3 November 2015 settlement agreement from re-litigating matters settled by it; the trustee acted within the broad unfettered discretions conferred by the trust deed and there were no grounds (bad faith, ultra vires or serious maladministration) to remove him; s 66 directions were available and were granted to approve the trustee's proposed allocation of costs and resettlement of capital subject to specified deductions and updates.