HON R. PHARAZYN’S ESTATE

New Zealand Times, Volume XL, Issue 9172, 12 October 1915, Page 2

HON R. PHARAZYN’S ESTATE

ORIGINATING SUMMONS HEARD . - BY APPEAL COURT.

Questions with regard to - the interpretation of the will of the late Hon. 1L Pharazyn, ' of; ’Wellington,' - were; brought before the. Appeal Court yes-: torday morning. His Honour the Chief Justice (Sir Robert Stout)-pre-sided, and with him on the' bench were; Mr Justice Edwards and ;Mr Justice, Chapman... The case was -in . tho form, of, an originating summons removed to the Cour.t of Appeal for argument. The plaintiff was- Godfrey - Norris; Pliarazyn, <X nephew, of the deceased', and the.defendants were Charles Hay-, ward - Izard ■ and -Edwin George" Jclltcod,, trustees'-under the -wilh-‘; - - - ; Mr M. Myers represented the plaintiff, and Mr E.-G. Jellicoe appeared for the trustees and Mrs. Pharazyn (widow). - , , ■■ Under the will the testator, after giving cfertain trusts, legacies,'and life, interests in favour of his wife and other persons, gave, after - tho decease of his wife, a property called. Marabou, in the Waitotarn district, which is now represented by a sum of £60,000 invested - by the trustees," in trust for Godfrey.'Norris Pharazyn absolutely, “if he he then living, and - for the use and - benefit of his legal personal; representatives for the tiino being, if he bo (then dead.” The point to bo-de-cided was whether the words after, the word “absolutely” cut down the. absolute gift , and constituted. by succession a gift—over which was in. law, effectual. - . .

Mr Jellicoo, for the trustees, contended, that the remainder ill this, trust property was vested in Godfrey; Norris' Pharnzyn," and' hot ■■contingent, upon the,-death of.-MrsPbarazyn, and; that Godfrey Norris ; Pharazyn and ids executors had acquired a vested interest in the property. The trustees, said Mr Jellicoe, were glad to find that this view coincided with Mrs Pharazyn’s know-ledge regarding 1 the inten-: tioii of the testator as. to . the whole: scheme of the will, which was to pro'vide a hereditable interest vested nr Godfrey Norris Pharazyn. Air Jellicoe added that he was instructed to; say that' Mrs Pharazyn so revered what-, she knew to be the real scheme of the will—namely,; to create in God-; f\ej‘- Noi-ris! Phnraz.vn- - a Pharazyn. estate —that if an intestacy had in fact resulted from the words quoted,: she intended to exercise her power of appointment in favour, of Godfrey, Norris Pharazyn. \ Mr Mj-ers argued that a vested in-: fcerest passed under the will to the plaintiff, and in support of the originating summons the plaintiff said that: the property r*erred to in the will as Marabou Had been sold since' the death of the testator for the sum of £60,000. of which' £49,790 is secured upon' mortgage. He was desirous of raising money upon the security • of the interest, as • in .the terms of the will lie was entitled: to the properties or the proceeds of the sale./thereof, but he was Unable to obtain advances until his legal position as a legatee had been defined. : ' .Their Honours .reserved judgment, Mr Myers asked.-that the costs of tlie action should conic out of the estate, hut this was strenuously opposed |iy Mr ■ Jellicoe... on .-behalf of, the' trustees.