DISPUTE OVER ESTATE.

Auckland Star, Volume LXVIII, Issue 155, 2 July 1937, Page 9

DISPUTE OVER ESTATE.

LADY HUNTER'S ALLEGATIONS CASE FOR DEFENCE OPENED. (By Telegraph.—Press Association.) WELLINGTON, Thursday. The cross-examination of Lady Hunter was begun in the Supreme Court to-day, which marked the start of the third week of the action in which she seeks the removal of Cyril Paul Hunter and Thomas Percy Hunter from the trusteeship of the estate of her late husband. The plaintiff said that in 1930 she wae threatened by the trustees and their solicitors that if she did not sign the probate papers they would run the estate so that she would not get a penny from it. Cyril Hunter showed her a clause in the will absolving the trustees from losses on the station, and said they could ruin her with it. Percy Hunter had had eight years' experience of running the estate. Mr. Weston, opening the defence, said that Sir George Hunter died on August 20, 1030, leaving certain assets. The sheep station was valued at £83,598, the stock at £15,604. a Customhouse Quay property et £10,300, a Dixon Street property at £8960, shares in companies at £3903. and mortgages at £10,806. The liabilities were death duties and debts £34,168, overdue mortgages on the Dixon Street property £11.050, and legacies £6600. The total liabilities were £51.818. The death duties were subsequently increased and in addition there were testamentary expenses and annuities under the will. The only liquid assets were shares and stock, which had to be retained for station purposes. On the other hand the liabilities were all payable on demand.

Aβ a result of litigation, said Mr. Weston, legal expenses totalling £0000 h«id been incurred. The estate was insolvent in June, 1032, because it could not meet debts an they became due. In Tune, 1034, the trustees raised £r>o.ooo, with which were paid the death duties, some of the testamentary expenses, debts, lejracies and arrears of annuities. Hβ submitted that until the debts, legacies and administration expenses and accounts had been pnid up to date, the estate could only be looked at in the light of the cash available. Tho case meant more than a mere few thousand pounds to the defendants, continued counsel. Their good name throughout the country had been besmirched and they were here to clear themselves. They had treated Lady Hunter with the utmost fairness and justice and. so far from having any cause for complaint at all. the cratitude was on her side, or should be. Xo honest man. added Mr. West on. would have spent more money on the property than had been spent. Tf the trustees had done more than they did they would have been guilty of unbusinesslike conduct which, of coursp. would not have been fair to the creditor. The hearing was adjourned.