27 Apr 2023
CLARK & SON LIMITED v CLARK & ORS [2023] NZHC 957
- Citation
- [2023] NZHC 957
- Court
- High Court
The 499 shares vested in the trustees by deed dated 26 June 2017 and, absent evidence of any subsequent valid change, remain legally owned jointly by the three trustees; the High Court has jurisdiction under its inherent jurisdiction to declare legal ownership where such declaration serves a useful practical purpose and aligns with statutory obligations to maintain a correct share register; accordingly the Court exercised its discretion to declare the 499 shares legally owned by the three trustees and did not find the application an abuse of process.