26 Mar 2014
RE MABEL ELIZABETH JAMES QSM CHARITABLE TRUST BOARD (INC) [2014] NZHC 581
- Citation
- [2014] NZHC 581
- Court
- High Court
Given the small capital and income of the trust, the disproportionate administration costs, the concurrence of key interested parties, and the need to give effect as closely as possible to the settlor's intentions, it is just and equitable under s25(1) Charitable Trusts Act 1957 to liquidate the Trust, appoint Peter Robert Raleigh Mulligan as liquidator, allow trustees to recover reasonable costs from the trust funds, and direct the balance to be distributed equally to the four specified charities.