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Court of Appeal Wellington
9, 10, 11 October; 23 November 1990
Richardson, Somers and Casey JJ
9, 10, 11 October; 23 November 1990
Richardson, Somers and Casey JJ
Trusts and trustees — Breach of trust — Mixing of funds of more than one beneficiary resulting in subsequent shortage — Impossibility of tracing — Whether money of the beneficiary first paid in is the first paid out — Whether proceeds should be distributed pro rata among unpaid investors.