24 Nov 2022
PENNELL v CARTER [2022] NZHC 3094
- Citation
- [2022] NZHC 3094
- Court
- High Court
The trust beneficiaries' beneficial interests vested on the creation of the Carter Family Trust in 1991 subject to the settlors' life interest; therefore Graham's beneficial share did not lapse on his death and passed to his estate/representative (second respondent); the Pennells, having acted as trustees de son tort, are properly appointed as trustees under s114 and the Court will vest trust property accordingly; indemnity from the trust for the applicants' costs is permitted but indemnity for the parties' own legal costs is denied and costs are awarded against the first respondent to the se…