8 Nov 2016
RE BURNETT MOUNT COOK STATION CHARITABLE TRUST [2016] NZHC 2669
- Citation
- [2016] NZHC 2669
- Court
- High Court
The deed's objects (cl 5.1) do not mandate perpetual ownership. The trustees may, acting prudently to promote the charitable objects, sell the property if satisfied a sale is in the Trust's best interests provided that purchasers accept enforceable protections (eg a registered encumbrance and optional rights of first refusal) securing ongoing compliance with the charitable objects. The Court will grant directions under s 66 approving such a sale in principle but does not compel the trustee to sell.