27 May 2016
C M VELLA AND MCI TRUSTEES 2013 LTD [2016] NZHC 1130
- Citation
- [2016] NZHC 1130
- Court
- High Court
Where trustees consulted beneficiaries and reasonably balanced competing interests, the Court will direct that trustees are not required to pursue the full contractual interest; it was a proper exercise of the trustees' discretion under s 66 to direct recovery of the principal sum of $59,168 together with limited interest of $28,911.26 to fairly balance beneficiaries' financial interests and family welfare and to preserve relationships.