New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Trust beneficiary
  • 30 Nov 2011

    LI V LI & Anor HC AK CIV-2011-404-7393

    Citation
    openlaw-51db2038_2a36_4953_a125_c0f3033be1b8.pdf
    Court
    High Court

    Because only a portion of the sale proceeds (approximately NZD125,000–NZD140,000) was arguably traceable to the plaintiffs and the proprietary claim was unlikely to extend to the entire frozen sum, the court found it appropriate to vary the freezing order and permit limited releases: monthly living expenses (NZD4,500), specified lump sums for debt servicing (NZD1,450) and relocation/furnishing (NZD7,000), and monthly legal costs on a Category 2B basis with 30% uplift, conditioned to protect the plaintiffs' ability to proceed to trial and subject to review.