Trust Series 2018 - Important Trust Cases Update - 8 March 2018 (On Demand)

Description

Professional trustees carrying the can. There are a number of recent cases where professional trustees are financially caught out where the trustee

  • is held liable, although not in breach of trust, or 
  • fails to be entitled to recover costs or be indemnified from the trust fund. 

The trustees are generally taken completely by surprise that they must carry the loss. This webinar considers those cases so that trustees are alerted to the dangers and get their money. 

Where trustees are making an important decision with regard to substantial trust funds, this may warrant an application to the Court to have the Court’s blessing. A recent decision supports this approach, breaking new ground and bringing NZ in line with other countries, and providing welcome relief for trustees. The parameters of this approach are considered. 

For those who are liquidators, a recent Court of Appeal decision regarding tracing funds has clarified the position in NZ which has suffered from conflicting High Court decisions. The webinar looks at where tracing misappropriated trust assets stops (but there is a key exception). 

Presented by Vicki Ammundsen and John Brown, the cases covered will include:

  • Courtney v Pratley 
  • Mackie Law independent Trustee Limited v Chaplow 
  • LSF Trustees v Footstep Trustee Co 
  • PV Trust Services Limited 
  • The Fish Man Limited, and 
  • R v Love.

LEARNING OUTCOMES

Attendees will learn:

  • The current approach to trustee’s costs as exemplified in recent court decisions, alerting trustees to the dangers
  • What trustees can do to protect their ability to recover their costs from the trust and how they may better protect themselves when faced with important financial decisions affecting the trust
  • The rights of beneficiaries to trust property when a trustee or fiduciary acts in breach

ORIGINAL BROADCAST DATE

8 March 2018

SUITED TO

This webinar is targeted at all practitioners at all levels but will be of particular interest to liquidators and practitioners who act as trustees or advise trustees

PRESENTERS

Vicki Ammundsen, Vicki Ammundsen Trust Law and John Brown, Barrister

1.25 CPD Hours

  • On Demand Event
    Complete online in your own time (Self-paced)
    • $180.00 excl. GST

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One-connection-one-fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

All registrants that do not log into the live webinar are automatically sent a recording either later the same day or early the next business day.

If you did log in and wish to view again simply drop us a line at NZ‑learning@wolterskluwer.com and we’ll be happy to send it to you via email.

Sole practitioners

A discount on webinars is available for sole practitioners. Please contact us at NZ‑learning@wolterskluwer.com to confirm eligibility.