SUPREME COURT.

Dominion, Volume 4, Issue 1109, 24 April 1911, Page 3

SUPREME COURT.

IN CHAMBERS. OVER A VOLUNTARY TRUST. An important law point was argued before his Honour the Chief Justice on Saturday, on an originating summons. Tho parties wore the Public Trustee, as administrator of the estate of John Redd, late of Bulls, farmer, and as representing the beneficiaries under deceased 5 will other than the defendants, and Ann Wallis, of Bulls, spinster, as representing herself and Mavy Redd, of Ickleford, Hertford, widow, having a similar inC ThV deceased by his will, dated March 31, 1838, gave his estate, including a life policy (after payment of certain lcacies), to his step brothers and sisters. On September 20, 1800, deceased, bv a deed executed in England, transferred the policy to a trustee (since dead) to hold .£IOO of the policy money on trust for his step-mother, Mary Redd, ami he remainder for his cousin,-, Ann, Mains. This assignment was obtained in .linglaud, and notice of the assignment forwarded to the Government Life Insurance Department. On the death of the deceased, the sum of .£377 9s. was paid to the Public Trustee by the defendant, on an undertaking to have thejitle to the policy definitely decided. The assignment and notice were good in England to effectually vest the policy in the assignee. The difficulty arose out of the fact that the Life Insurance Act, 1008, of New Zealand requires that a policy can only bo assigned by a transfer endorsed on the policy signed by the transferor nnd transferee, and duly registered. Without this, the assignment was invalid, and could not be recognised, but, it was urged, the Court had power to enforce trust and equities. Tho assignment in the case was a good equitable assignment in law, but bein.q a voluntary trust the further difficulty arose that the law would not recognise a voluntary trust unless everything had been done to effectually vest the legal estate in tho trustee. After hearing argument at some length, his Honour reserved his decision. Mr. J. W. Macdonald appeared for the Public Trustee, and Mr. H. F. Von Ilaast for the defendants. THE WILL OF SIR WALTER BULLER. PAI'AITONGA ESTATE. A petition under the Settled Land Act was presented to tho Court by the tenants for life under the will of the late Sir Walter L. BuUer, for permission to sell the l'apaitonga Estate, situated near Manakau. After hearing argument at some length, his Honour said he could see no reason why the petition should not be granted. It would be beneficial to the life tenants, nnd could not injure the children. The petition was accordingly granted, costs to be settled by the Registrar, to conic out of the property. Mr. 11. Chapman, K.C., with him Mr. H. Buddie, appeared for tho petitioner;, and Mr. G. Fell for the trustees.