18 Aug 2020
PACIFIC PREMIER BANK v ASIATRUST NEW ZEALAND LIMITED [2020] NZHC 2086
- Citation
- [2020] NZHC 2086
- Court
- High Court
The Court declared that all property held by AsiaTrust Limited as trustee of the CD PRT NZ Trust is traceable to the CD Private Retirement Trust, based on New Zealand evidence and trust instruments; however the Court refused to declare that the California judgment establishes a constructive trust or an obligation to remit against AsiaTrust CI because AsiaTrust CI was not a party to the California in personam judgment and New Zealand courts cannot extend or vary a foreign judgment to bind a non-party; the correct remedy is to apply to the California court to amend its judgment.