What started as a prudent decision to place their South Auckland family home into trust as protection against business creditors turned into a sibling standoff with Roneel Nath treating the Alfriston property as his own; not paying rent to the trust, allowing the property to run down, and failing to account for rent paid by tenants occupying a smaller dwelling on site.
Justice Gault ordered the property be sold and the Nath Brothers Family Trust wound up.
Roneel and brother Vicky Nath are the two trustees. They are named, together with their mother Sunil Lata, as the Trust’s primary beneficiaries.
The High Court was told their family trust was established in 2013. Initially, it operated as an investment trust; buying and later selling a property in Mangere East.
In 2016, the family home on Everlea Place was transferred into the Trust.
Their mother continued living there after transfer to trust ownership, together with son Roneel and his family.
A decade later, the relationship between brothers Roneel and Vicky had become decidedly frosty.
Claims Roneel was letting the property fall into disrepair and failing to account for rentals received were major points of friction.
Vicky said his brother refused to enter into discussions. He refused to countenance any winding up of their Trust, Vicky said.
The High Court was told their mother supported Vicky’s plans to terminate the Trust.
With the trustees deadlocked, Justice Gault used Trusts Act powers to order a sale of Everlea Place and termination of the Trust.
Evidence was given that net equity in Everlea Place is some $2.2 million.
Justice Gault ordered payments be made from proceeds of sale to reimburse beneficiary loans made to the Trust: Vicky ($311,050); Roneel ($141,912); and their mother ($265,520).
He further ordered reimbursement of any expenses incurred by Vicky and his mother on repairs to put the property into a saleable state, up to a maximum of $95,000 as set out in a repair schedule presented to the court.
The net balance is to be divided three ways between the major beneficiaries: Sunil Lata and her two sons.
Roneel was ordered to provide a verified statement of account for rentals received from the minor dwelling on the property. Should he fail to do so, Vicky and his mother are to each receive $105 for every week the dwelling was rented out, deducted from Roneel’s share on termination of the Trust.
Roneel did not defend his brother’s court application to wind up the Trust.
Nath v. Nath – High Court (20.11.25)
26.014