1 Oct 2018
RE HYNES [2018] NZHC 2575
- Citation
- [2018] NZHC 2575
- Court
- High Court
Transactions 1–3 were Major Transactions under the Settlement Trust deed and required approval by Special Resolution; s 64 could not be used to retrospectively authorise them because the deed contained an express contrary intention requiring member approval; s 66 relief in the form sought (doing nothing or merely informing beneficiaries) was inadequate, and the Court directed trustees to seek approval by Special Resolution in accordance with the deed.