10 Jul 2017
MACKIE LAW INDEPENDENT TRUSTEE LTD & ORS v CHAPLOW [2017] NZHC 1570
- Citation
- [2017] NZHC 1570
- Court
- High Court
Trustees were entitled to an indemnity only for fees reasonably and properly incurred in execution of the trust; due to their misunderstanding of the memorandum of wishes and related unnecessary conduct, only limited amounts were indemnifiable (Mackie & Co $3,500 plus GST and disbursements; GM Legal $4,200 plus GST and disbursements); the mortgage over the trust property was unnecessary and must be discharged; removal of trustees is warranted but appointment of replacement trustees (including Public Trust) is deferred pending further evidence on the residuary estate and resettlement options.