ACTION AGAINST TRUSTEES.

Otago Witness, Issue 3772, 29 June 1926, Page 50

ACTION AGAINST TRUSTEES.

SALE OF AX ESTATE. NAPIER, June 21. This morning, before Mr Justice Reed, the hearing commenced of a case in which Ida Tawse, one of the beneficiaries under the will of the late H. J. H. Glazebrook, a sheep farmer, brought an action against Henry Gasgoyne, Howard Glazebrook, and ►W. G. W®od, the trustees of the estate, claiming accounts, the removal of the executors, and damages through an improper sale. Plaintiff was represented by Sir John Findlay, K.C., and Mr R. Grant, and the defendants by Mr Gray, K.C., and Mr H. n. Lusk. The testator left among his properties a valuable sheep farm known as VVashpool (27/3 acres) to one son and six daughters. At a meeting of the trustees it was decided to sell, contrary to the beneficiaries’ wishes, at £l9 6s Sd per acre, whereas the property was valued at £3O. Sir John Findlay, in opening, said this was a ease in which the plaintiff sought relief through a breach of trust. The executors were given ample power under the will to continue working the property as a sheep farm for two years, and unanimously decided to do so, but Inter, through pressure by tho mother, some of the daughters nnd Howard Glazebrook, an executor, gave way, and effected the sale at Ihe Government valuation. Counsel quoted at length the meetings of the trustees nnd beneficiaries, his address lasting for four hours. June 23. At the Supreme Court to-day it was announced that a settlement had been reached in the case in which Ida Tawse, one of the beneficiaries under the will of the late H. J. H Glazebrook, proceeded against Henry Gascoyne nnd others, as trustees of the will, for the alleged improper sale of a property consisting of 2713 acres to Howard Glazebrook, one of the beneficiaries and trustees, and claiming accounts, the removal of tho executors, and damages for the alleged improper sale. For the plaintiff, Sir John Findlay said all the imputations and allegations made by plaintiff and himself against the trustees, valuers, ami others were withdrawn in the light of fuller information.. There would be no payments oy defendants to plaintiff, and an arrangement had been agreed upon in regard to costs.