COURT RULING
QUESTION OF A WILL. (Per Press Association — Copyright.) WELLINGTON, September 12. Reserved judgment was given by 'Mr Justice Reed in the Supreme Court in a case raising question as to whether the trustees of the estate of the late Edward William Lowe could be permitted to invest in mortgages' on land iti View of the fact that, as the result of the irecent legislation, the securities (stipulated in the will of the. deceased aio longer yield 5 per cent, interest. His Honour hold that there was an express prohibition against investment in mortgages of land, and" that there was no such state of emergency shown as would justify the Court in authorising a disregard of siich prohibition. His Honour made the following declatory order; —The Public Trustee may invest the moneys which may hereafter be in his hands as trustee of - the will in ■lnvestments of the nature authorised by will which produce' on the investments a. return of less than 5 per cent., provided' that at the time of • the investment such moneys' cannot 'be invested on (Security of the nature authorised by the will producing on investment a -ret/ur,!! ofjS per cent, or more.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/HOG19330913.2.69
Bibliographic details
Ngā taipitopito pukapuka
Hokitika Guardian, 13 September 1933, Page 6
Word count
Tapeke kupu
198COURT RULING Hokitika Guardian, 13 September 1933, Page 6
Using this item
Te whakamahi i tēnei tūemi
The Greymouth Evening Star Co Ltd is the copyright owner for the Hokitika Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in