17 Oct 2016
SAYES v TAMATEKAPUA [2016] NZHC 2463
- Citation
- [2016] NZHC 2463
- Court
- High Court
Because the Woolleys Bay property remained a trust asset until its transfer on 23 December 2015 and could have been renounced by Gerrard until that date, his entitlement remained in credit until that date; accordingly interest earned on trust assets up to distribution should be divided equally among the four beneficiaries and Gerrard must pay interest on his outstanding over-entitlement at 3.5% per annum in accordance with the Court's earlier direction.