APPEAL COURT.

Hokitika Guardian, 6 July 1925, Page 3

APPEAL COURT.

[LV IKLI.U HACII WELLINGTON, July G. The Appeal Court to-day resumed the bearing of tbe appeal ol .Morgan and others v. Wrighl and Nnsworthy which was partly beard on April 27th., at Hie last sitting. For the appellants, Air Myers, K.C.. Mr Donnelly and Mr Bra.ssington, and for the respondents Messrs Grcsson, Uphum anil Evans. The appeal is lodged against the whole of Justice Reed’s judgment, exicpt such part as declares, (a) that defendant, Douglas George A\ right. was not entitled to purchase the stock on the Surrey Hills and Windermere estates; ih) Unit the purchase of the stock of the said estates had not been condoned by the beneficiaries, nor had they acquiesced in sale, (c) excepting such part of the judgment as orders Unit enquiries should he made and accounts taken before a registrar and accountant as to whether the rate ol interest payable between 1908 and 1924 by Douglas George Wright to tbe trusties was the proper rate, and (ff) whether the securities mill held by the trustees are in order and whether they are good and sufficient securities as required by the Trustee- Act. 1908. Air Myers opened for the appellants and the ease so far lias been occupied with a discussion a- to the profits made

our of i Ik- estate. .Mr Myers in opening tin- appeal .stated there would lie a slight alteration in the ease as previously presented, .Instil e Heed had aeeepted Mr Xosworthy’s statement as to the valuation of Windermere without supportin'; evidence. They alleged the Trustees had been allowed to purchase the property at the lowest possible valuation, at a profit of fifty thousand. Although the land and stock of Windermere and Surrey Hills estates were purchased for £93,181, all the cash actually found hy Douglas Wright was the paltry sum ol eight hundred and the only person considered in the transaction was Douglas Wright, whose interest was adverse to the trust estate. Mr Myers then proceeded to discuss figures and review the purchase tit great length, stating the total profit that appeared to he made on holh properties was £sl,»k>6. Mr (Iresson : If the purchase was legal in law. then the amount of the

n-otit made is immaterial. Sir Robert Stout (Chief Justice): it’s because a profit has been made hat the case comes Indore tile Court. If there had been a loss nothing would iavo been heard of it. Mr Myers: That is so. Mr Justice Sim: Mr Myers may surged as regards Chapman's block, but fail in respect, to the Surrey Hills. Afr Myers: Mr Xosworlhy bought Chapman's land along with AYindcrmere. This was a breach of the trust, since the deed prohibited the purchase of hind. Throughout the whole affair it may be the voice of Mrs AA right or of Mr Xosworlhy, but it was the band Douglas AA’right all the time. He sent the documents up to Mr Noswoi'tby with instructions to write confirmed on them.