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CONTENTS I Introduction II Fundamental Principles and Defined Terms III The Statutory Regime IV Background A Octavo Investments Pty Ltd v Knight B Re Enhill Pty Ltd C Re Suco [...], This case note considers the High Court's recent decision in Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth (2019) 93 ALJR 807 ('Re Amerind'). In Re Amerind, the Court resolved a longstanding controversy, holding that the interest a corporate trustee has pursuant to its right to be indemnified against trust liabilities is property divisible among the trustee's creditors in its winding-up under the Corporations Act 2001 (Cth). This note considers the background to the decision and explains the Court's reasoning. It shows that the Court's reasoning supports the fundamental yet overlooked proposition that the interest the trustee has is a legal interest in the trust property. This conclusion supports the view that a retiring trustee is entitled to retain sufficient trust property as against a new trustee to ensure that its right of indemnity is satisfied.

I INTRODUCTION Whether or not an agreement to vary an existing contract is to be treated the same as any other contract has been debated in England since the Court [...], This article will review the current New Zealand approach to the formation of variation contracts. In particular, it will critique the current position taken by the Court of Appeal that either: a practical benefit can be good consideration;, or consideration is not needed for variation agreements. The article will then explore some of the implications of using estoppel as an alternative basis to enforce variation agreements when consideration has not been provided by the promisee.

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