26 Apr 2017
JOCELYN ZELPHA CHAMBERS V S R HAMILTON CORPORATE TRUSTEE LIMITED AND LAMB TRUST SERVICES LIMITED [2017] NZCA 131
- Citation
- (2017) 4 NZTR27
- Court
- Court of Appeal
The Court held the High Court did not err: trustees had sought alternative relief including a direction as to process if specific requests were refused; the Judge properly considered and rejected the proposed sale to one beneficiary at an undervalue because it conflicted with the settlor's expressed wish that the children be treated equally and would have produced an unjust windfall; the Court therefore validly used s66 to direct an offer to all beneficiaries at market value and substituted an updated valuation on appeal.