Rudd - Horowhenua 11 Part Reservation Trust (2017) 368 Aotea MB 201 (368 AOT 201) [pdf, 287 KB]
...expectation, which equity will recognise, that the fiduciary will not utilise his or her position in such a way which is adverse to the interest of the principal. [62] The duty of loyalty is embodied in the profit and conflict rules. A fiduciary is not permitted to profit from his or her office except with the informed consent of the beneficiary. A fiduciary also must not place him or herself in a position where personal interest conflicts with the duty owed to the trust. 16 [63...