In most cases in litigation, the losing party contributes to the
winning party's costs. The Court awards those costs based on a
'scale' (scale costs). In theory, scale costs are meant to reflect
a reasonable contribution to the actual costs incurred, which is
approximately two-thirds of a party's costs.
By Pierce Bedogni - 15 Mar 2018 - 1 comment
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Not every separation requires a lawyer, especially if you and
your partner are amicable and can resolve things between
yourselves. However, if there are disagreements, a lawyer can help
with practical solutions. We can tell you the steps and timeframes
required during the process and let you know likely outcomes based
on previous case law.
By Surendra Bennett - 15 Jan 2018
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While the 'parent settlors' of a family trust are alive
and have their mental capacity, the issue of monitoring what the
trust is doing is not an issue. But once the parents die or lose
capacity and the administration of the trust transfers to the
'professional trustees', it often becomes the task of the children
to ensure that the trustees act reasonably, competently and are
held to account for their decisions. But how?
By Andrew Steele - 8 Sep 2017
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There are several hundred thousand family trusts in New
Zealand. These often hold the financial 'nest egg' of aging
settlors concerned ultimately to protect their assets during their
lifetime and ultimately to benefit their children. While the
'parent settlors' are fit and healthy, the terms of trust usually
ensure the trust assets are under their supervision and are often
the trustees. The 'independent trustee', where present, is often
relegated to a relatively benign role of simply reviewing and
approving their co-trustees preferred course of action with regards
to investment and distributions. From the settlor's children's
perspective that's fine - after all - they often don't understand
the distinction between assets that have been transferred into a
trust and the parent's personal property.
By Andrew Steele and Timothy Orr - 30 Aug 2017
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It is not uncommon for credit application forms to include
a clause that charges in favour of the creditor all property held
by the debtor. This is typically accompanied with a clause whereby
the debtor appoints the creditor as its attorney for the purposes
of executing a mortgage over the charged property (if the debtor
does not do so).
By Tony Johnson Kay Keam and Alden Ho - 25 Aug 2017
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The Court of Appeal in Chang v Lee [2017] NZCA 308
addressed the situation where a generous uncle funded 50% of the
purchase price for his niece to buy a property. She took title in
her own name, then denied the uncle's right to repayment saying the
'advance' was a gift. No loan agreement had been entered into
between them. The Court of Appeal held that where a person makes a
payment to another to buy a property, there is a
presumption against a gift. Instead the property
is held on trust for the funder in the share of the sum they
contributed.
By Andrew Steele - 22 Aug 2017
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This week is Money Week - a great time to take stock of your
financial position. Did you know that if you've separated from your
partner and they're living a life of luxury while you're in
struggle street, you could be eligible for spousal maintenance?
By Fiona McGeorge - 18 Aug 2017
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A recent High Court decision has proved that unreasonable
costs by professionals won't wash with the Courts.
By Tony Johnson - 28 Jul 2017
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Insolvency law is all about recovering assets and
redistributing their value to creditors in an order pre-determined
by the laws of equity, secured creditor rights and priority rights
of unsecured creditors. It is all very well getting a judgment
against a creditor, but the real question is, does that judgment
result in the return to the company of an asset or money equivalent
i.e. it's all about the money.
By Tony Johnson - 21 Jul 2017
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Generally, upon bankruptcy, everything you own vests in
the Official Assignee. The recent High Court decision in
Hargraves re-affirmed however that there are
important exceptions.
By Tony Johnson - 14 Jul 2017
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