Although the Newmarket Trustees case appeal has yet to be heard, the Law Society has come out in support for the single corporate trustee model.
See http://www.adls.org.nz/about-adls/committees/public-issues-committee/public-issue-papers
Another advantage of the single or dedicated corporate trustee model is the ease (and cost effectiveness) at which the effective control of the corporate trustee can be changed. However, on a cautionary note, a point not made by the Law Society is that where a single corporate trustee is appointed there is a risk, albeit largely theoretical at present, whereby in certain circumstances beneficiaries can claim against the director of a corporate trustee pursuant to a dog-leg claim. Read more
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