15 Nov 2019
FARMERS TRADING COMPANY LIMITED v PERSONS DIRECTED TO BE SERVED [2019] NZHC 2987 [15 November 2019]
- Citation
- [2019] NZHC 2987
- Court
- High Court
The Court had jurisdiction under s66 (and inherent jurisdiction if necessary) to direct vesting of the invalid Laidlaw Brothers Memorial Trust assets in the Laidlaw Brothers Memorial Employees Society because the assets were held on resulting trust after the perpetuity period expired and vesting in the Society best effectuated the settlor's intent; further, Farmers acted honestly and reasonably and relief under s73 was appropriate to relieve Farmers of any personal liability for inadvertent breaches.