This post is the the next chapter in the saga of a personal bankruptcy instigated by a trustee against a person for whom they had a fiduciary duty. Initially Mr Errol Anderson of the New Zealand Trustees Association supported the beneficiaries position until it was discovered that a member of his board of directors was a witness in the proceedings.
The Association then withdrew its support & threatened a member's expulsion from the Association if critical of the executive. Other blogs on this subject include www.grosslyexcessive.blogspot.com and www.rogeredchapman.blogspot.com
The purpose of this posting is to prove the Association, which is registered as a charity, is operated by the Executive Officer in a manner that contravenes the trust deed and other statutory requirements, the first of which is the Fair Trading Act. The following complaint concerning the policy on holding an AGM has been forwarded to the Commerce Commission.
From:
email jcreser@gmail.com
6 November 2006
TO Commerce Commission
44-52 The Terrace
Wellington
Fax 924-3700
Dear Sir/Madam,
I am writing to request that the Commission consider the advice given to prospective members of the New Zealand TrusteeÂs Association Charitable Trust ( Deed attached) about the benefits derived from the membership level that provides voting rights at the AGM.
The Association has in my view breached the Fair Trading Act by offering voting rights at an AGM, which hasnÂt been held since the Association was inaugurated.
The membership is follows and can be found at: http://www.nzta.org.nz/index.html?page=loms.htm
NZTA Membership Levels
________________________________________________________
Levels of subscription:- (full membership underlined, all prices are GST inclusive)
Associate ($49.50) Criteria: Available for individuals who are not seeking full membership.Benefits: Receives Estate & Trust Bulletin. Receives Members Brief the email briefing paper for members. Annual Listing on NZTA Website (Name Only).Credentials: ANZTA
Family Trust Member ($55.50) Criteria: Available for Family, Private & Inter Vivos Trusts.Benefits: Receives Estate & Trust Bulletin. Receives Members Brief the email briefing paper for members. Annual Listing on NZTA Website (Name & Location). Able to attend AGM. Private Trust Members do not have a website listing due to privacy.Credentials: MNZTA
Member ($78.50) Criteria: Available for Trustees, Board Members & Trust Administrators.Benefits: Receives Estate & Trust Bulletin. Priority booking for NZTA events. Subsidy for NZTA events. Receives Members Brief the email briefing paper for members. Able to attend AGM. Able to vote on agenda. Annual Listing on NZTA Website (Name & Location).Credentials: MNZTA
Senior Member ($112.50)Criteria: Available for Chair, Senior & Professional Trustees, Practitioners, Directors, Executives & Senior Trust Administrators.Benefits: Receives Estate & Trust Bulletin. Priority booking for NZTA events. Subsidy for NZTA events. Receives Members Brief the email briefing paper for members. Able to attend AGM. Able to vote on agenda. Able to hold NZTA office, where holding a position of Trustee. Annual Listing on NZTA Website (Name, Location & Trust/Firm).Credentials: SMNZTA, Senior Member of NZTA
Corporate Member ($264.50) Criteria: Available for all Corporate Bodies.Benefits: Receives Estate & Trust Bulletin. Priority booking for NZTA events. Subsidy for NZTA events. Receives Members Brief the email briefing paper for members. Upto 4 representatives able to attend AGM. Able to vote (1) on agenda. Upto 10 copies of each NZTA publication. Able to hold NZTA office where a Trustee and natural person. Annual Listing of business on NZTA Website (Name, Location & Trust).Credentials: CMNZTA & Corporate Member of NZTA
Registered Trustee ($237.50) Criteria: Available for Senior Members of the NZ Trustees Association, by admission during August of each year. Application criteria and benefits available to NZTA Members. Full Annual Listing of individual & business on NZTA Website (Name, Business, Email, Website).Credentials: RT, Registered Trustee, Registered Professional Trustee
Consideration on your choice of level of subscription and membership may include:Total assets administered, subscription cost, aspirations as a body, individual aspirations, resident location, qualifications & involvement.
Funding of your subscription will have three options:
1 The Trust (Board) Funding of subscription by the Trust is normal for Family Trusts, and for individual membership for the Chair, Senior, Principal & Executive Trustees, and Senior Administrators.
2 The Firm or Trust Company Funding of subscription by the Firm is normal for Professional Trustees & Trust Practitioners (ie Solicitors, Accountants, Fund Managers etc)
3 The IndividualFunding of subscription by the Individual is normal for Nominal & Lay Trustees. Also where the funding of subscription is not viable for the Trust.
This matter has become of concern to me because of the manner in which the association is run. I am on the committee of an incorporated society and by comparison the Association is not transparent nor holds an AGM. This is vital to provide a forum in which members can have a say in how there money is being used. A recent email confirms this policy
From:Erroll Anderson, Registered Trustee
________________________________________________________________________
Hi John
The Trustees Association only holds GM's (not AGMs) mainly because,except for the inaugural AGM, in thepast there has been a near zero turn out, the Council uses the internet,conference calls and publications to dealwith Association matters. There has been no concern raised from membersand this hugely reduces the cost to NZTA.
This is how a large number of charities are run, there is no legislative requirement to hold AGMs.Every three years, when Council is elected, we have a formal GM to coincide with the NZ Trust Awards.Next meeting is October 2007.While I have been supportive of your efforts to improve trusteeship through your case, I cannot have you use NZTA as a vehicle for your personal challenges on JohnStevens or his firm.
This seemsto be apparent, in my opinion, as your principal objective for joiningNZTA.If you wish to forward a 1 or 2 page letter of concern regarding MrStevens addressed to the Council, I will forward itto them, but I would suggest caution on what you say without solid evidence.But, again, this Association and myself are not here to act as secretaryfor your endeavours, I will have Councilors contact you if they require additional information.I hope this helpsErrol Anderson
______________________________________________________________________________________
I joined the Trustees Association after a dispute involving my mother's estate became complicated. Several months after joining I became aware of a possible conflict of interest involving a solicitor on the board of trustee's, at which point I upgraded my membership believing this would give me the right to vote on tabled matters at the AGM. Mr Errol Anderson provided the following view.
Initial View Of Trustee Association
Claim of Ultra Vires and Breach of Trust That the ESTATE of JESSIE JOY CRESER, has taken action and entered into contracts outside of the terms of the Will,causing severe disadvantage to the Beneficiary RICHARD JOHN CRESER, under the dominant direction of theExecutrix JANINE MICHELLE CRESER.
That the Testarix JESSIE JOY CRESER, in her lifetime would not have initiated bankruptcy proceedings against a Beneficiary of the Estate in such a callous and vindictive way, given that the Beneficiary concerned was her sonand is to benefit from the Estate through a personal Trust.
That under the manipulative direction and control of the dominant Executrix, JANINE MICHELLE CRESER, the Estate has been used to severely and indelibly damage both the Beneficiary's personal reputation and financial credit rating.
That the dominant Executrix has acted alone in most instances and without consent from the co-Executrix MARION NGAIRE CRESER, in her use of the Estate and it's corpus to pursue legal action for her personal debtfrom the Beneficiary, and in doing so has acted Ultra Vires and stands accused of Breach of Trust.
That the Executrix's have failed in their duties and responsibilities to the ESTATE of JESSIE JOY CRESER throughtheir actions and non-action, and in doing so have acted Ultra Vires and have Breached the terms of their Trust.
Costs etc are outside of our view.Please come back asap if there are any alterations or suggestions.regardsErrol AndersonExecutive OfficerNZ Trustees Association
________________________________________________________________
john creser wrote:> Hi Errol,
>> The membership invoice was paid by me on 16 September. I understood> that there was a $250 charge for the opinion you are providing.>
Is this correct?>>
Thanks> John Creser
Hi JohnThe subscription invoice is for your records, I can acknowledge yourpayment was received.I have spoken with our Chairman and Solicitor on your case, we cannotgive a view on costs as you have requested.However, due to your circumstances and your membership of NZTA I havebeen able to reduce the cost of our serviceto you to $100 + GST.I hope this helps. you will receive a letterhead view in the post directly.regardsErrol AndersonExecutive OfficerNZ Trustees Association
Shortly after receiving the above view/opinion, it was retracted by Mr Anderson after I asked him to comment on the solicitorÂs grossly excessive legal fees.
In conclusion, the Association has offered a service and taken money for the promise of AGM voting rights without ever intending to provide the service in that offer. It may well be perfectly legal for no AGM to be held, however I upgraded my membership after joining specifically to take advantage of whatever internal democratic mechanisms existed. There are none and I believe this to be a breach of the Fair Trading Act and request the Commission take the appropriate action.
Yours impecuniously,
John Creser(Bankrupt)
cc Errol Anderson
The Association then withdrew its support & threatened a member's expulsion from the Association if critical of the executive. Other blogs on this subject include www.grosslyexcessive.blogspot.com and www.rogeredchapman.blogspot.com
The purpose of this posting is to prove the Association, which is registered as a charity, is operated by the Executive Officer in a manner that contravenes the trust deed and other statutory requirements, the first of which is the Fair Trading Act. The following complaint concerning the policy on holding an AGM has been forwarded to the Commerce Commission.
From:
email jcreser@gmail.com
6 November 2006
TO Commerce Commission
44-52 The Terrace
Wellington
Fax 924-3700
Dear Sir/Madam,
I am writing to request that the Commission consider the advice given to prospective members of the New Zealand TrusteeÂs Association Charitable Trust ( Deed attached) about the benefits derived from the membership level that provides voting rights at the AGM.
The Association has in my view breached the Fair Trading Act by offering voting rights at an AGM, which hasnÂt been held since the Association was inaugurated.
The membership is follows and can be found at: http://www.nzta.org.nz/index.html?page=loms.htm
NZTA Membership Levels
________________________________________________________
Levels of subscription:- (full membership underlined, all prices are GST inclusive)
Associate ($49.50) Criteria: Available for individuals who are not seeking full membership.Benefits: Receives Estate & Trust Bulletin. Receives Members Brief the email briefing paper for members. Annual Listing on NZTA Website (Name Only).Credentials: ANZTA
Family Trust Member ($55.50) Criteria: Available for Family, Private & Inter Vivos Trusts.Benefits: Receives Estate & Trust Bulletin. Receives Members Brief the email briefing paper for members. Annual Listing on NZTA Website (Name & Location). Able to attend AGM. Private Trust Members do not have a website listing due to privacy.Credentials: MNZTA
Member ($78.50) Criteria: Available for Trustees, Board Members & Trust Administrators.Benefits: Receives Estate & Trust Bulletin. Priority booking for NZTA events. Subsidy for NZTA events. Receives Members Brief the email briefing paper for members. Able to attend AGM. Able to vote on agenda. Annual Listing on NZTA Website (Name & Location).Credentials: MNZTA
Senior Member ($112.50)Criteria: Available for Chair, Senior & Professional Trustees, Practitioners, Directors, Executives & Senior Trust Administrators.Benefits: Receives Estate & Trust Bulletin. Priority booking for NZTA events. Subsidy for NZTA events. Receives Members Brief the email briefing paper for members. Able to attend AGM. Able to vote on agenda. Able to hold NZTA office, where holding a position of Trustee. Annual Listing on NZTA Website (Name, Location & Trust/Firm).Credentials: SMNZTA, Senior Member of NZTA
Corporate Member ($264.50) Criteria: Available for all Corporate Bodies.Benefits: Receives Estate & Trust Bulletin. Priority booking for NZTA events. Subsidy for NZTA events. Receives Members Brief the email briefing paper for members. Upto 4 representatives able to attend AGM. Able to vote (1) on agenda. Upto 10 copies of each NZTA publication. Able to hold NZTA office where a Trustee and natural person. Annual Listing of business on NZTA Website (Name, Location & Trust).Credentials: CMNZTA & Corporate Member of NZTA
Registered Trustee ($237.50) Criteria: Available for Senior Members of the NZ Trustees Association, by admission during August of each year. Application criteria and benefits available to NZTA Members. Full Annual Listing of individual & business on NZTA Website (Name, Business, Email, Website).Credentials: RT, Registered Trustee, Registered Professional Trustee
Consideration on your choice of level of subscription and membership may include:Total assets administered, subscription cost, aspirations as a body, individual aspirations, resident location, qualifications & involvement.
Funding of your subscription will have three options:
1 The Trust (Board) Funding of subscription by the Trust is normal for Family Trusts, and for individual membership for the Chair, Senior, Principal & Executive Trustees, and Senior Administrators.
2 The Firm or Trust Company Funding of subscription by the Firm is normal for Professional Trustees & Trust Practitioners (ie Solicitors, Accountants, Fund Managers etc)
3 The IndividualFunding of subscription by the Individual is normal for Nominal & Lay Trustees. Also where the funding of subscription is not viable for the Trust.
This matter has become of concern to me because of the manner in which the association is run. I am on the committee of an incorporated society and by comparison the Association is not transparent nor holds an AGM. This is vital to provide a forum in which members can have a say in how there money is being used. A recent email confirms this policy
From:Erroll Anderson, Registered Trustee
________________________________________________________________________
Hi John
The Trustees Association only holds GM's (not AGMs) mainly because,except for the inaugural AGM, in thepast there has been a near zero turn out, the Council uses the internet,conference calls and publications to dealwith Association matters. There has been no concern raised from membersand this hugely reduces the cost to NZTA.
This is how a large number of charities are run, there is no legislative requirement to hold AGMs.Every three years, when Council is elected, we have a formal GM to coincide with the NZ Trust Awards.Next meeting is October 2007.While I have been supportive of your efforts to improve trusteeship through your case, I cannot have you use NZTA as a vehicle for your personal challenges on JohnStevens or his firm.
This seemsto be apparent, in my opinion, as your principal objective for joiningNZTA.If you wish to forward a 1 or 2 page letter of concern regarding MrStevens addressed to the Council, I will forward itto them, but I would suggest caution on what you say without solid evidence.But, again, this Association and myself are not here to act as secretaryfor your endeavours, I will have Councilors contact you if they require additional information.I hope this helpsErrol Anderson
______________________________________________________________________________________
I joined the Trustees Association after a dispute involving my mother's estate became complicated. Several months after joining I became aware of a possible conflict of interest involving a solicitor on the board of trustee's, at which point I upgraded my membership believing this would give me the right to vote on tabled matters at the AGM. Mr Errol Anderson provided the following view.
Initial View Of Trustee Association
Claim of Ultra Vires and Breach of Trust That the ESTATE of JESSIE JOY CRESER, has taken action and entered into contracts outside of the terms of the Will,causing severe disadvantage to the Beneficiary RICHARD JOHN CRESER, under the dominant direction of theExecutrix JANINE MICHELLE CRESER.
That the Testarix JESSIE JOY CRESER, in her lifetime would not have initiated bankruptcy proceedings against a Beneficiary of the Estate in such a callous and vindictive way, given that the Beneficiary concerned was her sonand is to benefit from the Estate through a personal Trust.
That under the manipulative direction and control of the dominant Executrix, JANINE MICHELLE CRESER, the Estate has been used to severely and indelibly damage both the Beneficiary's personal reputation and financial credit rating.
That the dominant Executrix has acted alone in most instances and without consent from the co-Executrix MARION NGAIRE CRESER, in her use of the Estate and it's corpus to pursue legal action for her personal debtfrom the Beneficiary, and in doing so has acted Ultra Vires and stands accused of Breach of Trust.
That the Executrix's have failed in their duties and responsibilities to the ESTATE of JESSIE JOY CRESER throughtheir actions and non-action, and in doing so have acted Ultra Vires and have Breached the terms of their Trust.
Costs etc are outside of our view.Please come back asap if there are any alterations or suggestions.regardsErrol AndersonExecutive OfficerNZ Trustees Association
________________________________________________________________
john creser wrote:> Hi Errol,
>> The membership invoice was paid by me on 16 September. I understood> that there was a $250 charge for the opinion you are providing.>
Is this correct?>>
Thanks> John Creser
Hi JohnThe subscription invoice is for your records, I can acknowledge yourpayment was received.I have spoken with our Chairman and Solicitor on your case, we cannotgive a view on costs as you have requested.However, due to your circumstances and your membership of NZTA I havebeen able to reduce the cost of our serviceto you to $100 + GST.I hope this helps. you will receive a letterhead view in the post directly.regardsErrol AndersonExecutive OfficerNZ Trustees Association
Shortly after receiving the above view/opinion, it was retracted by Mr Anderson after I asked him to comment on the solicitorÂs grossly excessive legal fees.
In conclusion, the Association has offered a service and taken money for the promise of AGM voting rights without ever intending to provide the service in that offer. It may well be perfectly legal for no AGM to be held, however I upgraded my membership after joining specifically to take advantage of whatever internal democratic mechanisms existed. There are none and I believe this to be a breach of the Fair Trading Act and request the Commission take the appropriate action.
Yours impecuniously,
John Creser(Bankrupt)
cc Errol Anderson
posted by Beef-Hooked at 8:02 AM
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