BREACH OF TRUST CASE

Hokitika Guardian, 8 October 1924, Page 3

BREACH OF TRUST CASE

liy TEbKOItAPn —l’ltKBS ASSN., UOCVRIOTIT.

CHRISTCHURCH, October 8,

The Wright estate case was continued this morning. Conus:*! for <h-‘-fenco moved tor a non-suit against the defendant Douglas Wright on the ground that there was evidence that ho either controlled the trustees or was a constructive trustee.

Argument will lie hoard _ Counsel for the defence m Ins nddross, said that it must he dear that Douglas Wright had an '"lnnate knowledge of farming operations on the estates and that he would lie the person whose advice the trustees would natural,- seek. At the tune o the sale there was no suggestion ol unfairness regarding Douglas \\ rig i s acquisition of his hrother’s shares or that he had not paid a fair P™ 0 - After the transactions had stood tor 71 years, and after the whole of the beneficiaries had aequiesed m it, the Court was asked to set aside the transactions because an industrious, accountant had happened to (liseovei that there were a few face disci epancies in the ncounts. With res .ee to nnv breach, the chief safeguard that the trust assets would he conserved was the fact that Mr Nosworthy was a trustee because he was married to : s, «i» i-«» w that Mrs Morgan had. It Mr No worthy had been comm,mg at trickery then he would have been u.b hincr his own wife. Counsel said the belief that PWright made large profits out of the estates was entirely mistaken. He hoped to prove that the Jj|»- trUßt not suffered one penny loss- c .Lae D tl, 1,1. to purchase as an assigned u„ii brother’s share. *j. v The Judge: “It is a great p.t, that he did not see fit to get the tnat ne beneficiaries acquiescence oF tlic oinu « ■ a« it would have saved a .lot of trouble.''