CLAIM AGAINST TRUSTEE.

Star (Christchurch), Issue 16905, 2 December 1922, Page 12

CLAIM AGAINST TRUSTEE.

SUPREME COURT JUDGMENT. His Honor Air Justice Adams yesterday gave judgment for plaintiff for £lB in the Public Trustee a - . Colonel Rochfort Snow, of Christchurch, who is now m England. He, as a trustee, advanced a. sum of £ISOO, part of trust moneys and £IOO of his own to Charles \ agg, on mortgage over freehold property in the Bay of Plenty. The loan was negotiated by Mr C. Snow, then a land agent at Hamilton. The question was whether defendant was bound to restore certain moneys lost to an estate now administered by the Public Trustee. His Honor said that a trustee could not delegate at liis own mere will and pleasure, the care and custody of the trust moneys to strangers : he was prima facie answerable for the proper care and custody of the trust moneys until they were actually invested. and he would not be exonerated from liability if, in the meantime, ho left them in other hands. It was not suggested that defendant in any respect failed in his duty after the money had been paid over. In regard to defendant’s liability for £125 retained bv All C. Show out of £IOOO lent him. the net loss to the estate did not exceed £lB, and judgment would be given for that sum. with interest at 7 per cent from July 27, 1913.

It was agreed at the hearing that no costs should be allowed.