IN THE SUPREME COURT OF NOVA SCOTIA
Citation: Kidd Family Trust v. Kidd, 2005 NSSC 209
Date: 2005 05 17
Docket: SH 246567
Registry: Halifax
BETWEEN:
The Kidd Family Trust
Plaintiff
and
Terrance Kidd
Defendants
LIBRARY HEADING
Judge: The Honourable Justice Gerald R. P. Moir
Heard: 17 May 2005
Subjects: Trustees; Sale by, fiduciary obligations on sale.
Summary: Trustees agreed to sell a business to some beneficiaries after a limited exposure to the market. There was no listing and the agreed price was well below appraisal. The trustees were sophisticated and had sufficient knowledge and information to make their own judgement about value.
Issues: Whether the trustees had complied with their obligation to get the best price reasonably obtainable?
Result: Trustees were found to have acted within their discretion and in accordance with their duties.
THIS INFORMATION SHEET DOES NOT FORM PART OF THE COURT'S DECISION. QUOTES MUST BE FROM THE DECISION, NOT THIS LIBRARY SHEET.