20 Mar 2014
JOYCE v JOYCE, P J M & B J K v BOWEN [2014] NZHC 457 [20 March 2014]
- Citation
- [2014] NZHC 457
- Court
- High Court
The $150,000 advanced by Ms Bowen remained her separate property as it was a loan sourced from her separate Tolhurst Street equity and, as at separation, was a debt owed by the Trust to her; interest on that loan is payable from the date the Trust sold Rosetta Road in 2005. The life insurance commission 'book' is beneficially owned by FINANZ Ltd and CP Ltd and only $67,247 of the corporate group assets constituted relationship property to be equally divided between the spouses (each receiving approximately $33,623). The 'bundle of rights' doctrine did not apply to convert the Trust's or compa…