30 May 2022
RE STA TRAVEL (NZ) LTD (IN LIQ) [2022] NZHC 1398
- Citation
- [2022] NZHC 1398
- Court
- High Court
The court inferred an express trust: refund monies received by STA Travel from airlines were held on trust for the particular customers for whom they were paid; no institutional constructive trust arose because refunds were not paid into the wrong hands nor paid by mistake and STA Travel was entitled to receive the monies as agent; liquidators may deduct their reasonable fees and disbursements from the refund monies to the extent those costs are not covered by the CTRS; leave reserved for further application regarding reimbursements to banks/financial institutions in charge‑back cases.