13 Mar 2017
GODFREYS 2010 LTD v WAIREWA RUNANGA INC SOC [2017] NZHC 418
- Citation
- [2017] NZHC 418
- Court
- High Court
Clause 9.1 of the trust deed vests the trustees with an absolute and uncontrolled discretion to appoint a Vesting Day within the perpetuity period, and clause 9.2 provides for distribution on vesting; accordingly the trustee is authorised to advance the vesting day and distribute the entire trust capital to the sole beneficiary for its use, without needing to invoke s 64(1) or resettlement mechanisms.