Wong v Burt - [2003] 3 NZLR 526

Trusts and trustees — Duties of trustees — Decision by trustees to distribute capital from estate to life tenant — Life tenant lending capital to persons not beneficiaries under will until death of further life tenant — Whether trustees defeating intention of testator — Whether basis to review decision of trustees — Trustee Act 1956, s 73.

Trusts and trustees — Duties of trustees — Trustees receiving payment from company after liquidation — Trustees allocating payment to income and capital of trust — Whether payment to trust capital or income — Whether trustees relieved from any liability by indemnity in will — Companies Act 1955, s 270.

Practice and procedure — Limitation of proceedings — Claims as to trust property — When interest of beneficiary fell into possession — Whether cause of action accrued when claimant discretionary beneficiary or became life tenant — Limitation Act 1950, s 21(2).

Trusts and trustees — Duties of trustees — Whether investment strategy favouring income beneficiary — Whether breach of duty as to investment — Trustee Act 1956, ss 13, 13B, 13F and 13M.

Family protection — Claims — Claim by daughter and her children — Wills favouring other grandchildren — Whether breach of moral duty to daughter and her children — Whether breach of duty established by inequality in provision — Family Protection Act 1955, ss 4(1) and 9(1).