POSITION OF TRUSTEE.
Defendant in Supreme Court Case. Per Press Association. DUNEDIN, December 21. Ilis Honor Mr Justice Kennedy gave judgment to-day in the case Shiel v. Stables on a claim for £648. Stables was trustee in a bankrupt estate. The Bank of New Zealand, upon plaintiff’s guarantee, had rendered available the sum stated to defendant, which sum plaints had been compelled to pay as defendant had failed to do so. His Honor gave judgment against the trustee for the amount stated with costs. A trustee carrying on a business and entering into
commercial transactions was in no different position from an executor or trustee who carried on a business. He might have certain rights of indemnity extending both to assets and as against a person beneficially entitled, if sui I juris; but towards a creditor as such, he himself was personally* liable. A loan receiver and manager appointed by a court for carrying on an existing business was prima facie personally liable upon the contracts made of him as such receiver and manager, and must look for indemnity to the assets of the business.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TS19321222.2.86
Bibliographic details
Star (Christchurch), Volume XLIV, Issue 643, 22 December 1932, Page 8
Word Count
185POSITION OF TRUSTEE. Star (Christchurch), Volume XLIV, Issue 643, 22 December 1932, Page 8
Using This Item
Star Media Company Ltd is the copyright owner for the Star (Christchurch). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Star Media. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in