26 Feb 2021
MCCARTHY v MCMANAMON [2021] NZHC 294
- Citation
- [2021] NZHC 294
- Court
- High Court
The HOA constituted a nuptial settlement but its terms were not incorporated as express terms of the formal trust deeds; plaintiff breached his fiduciary and contractual obligations by failing to vest approximately $100,000 of agreed assets into his trust, which disentitled him to specific performance; however the court exercised its broad remedial discretion under s 182 Family Proceedings Act 1980 to remedy the failure of the marriage premise and ordered monetary adjustment: Elizabeth Street Trust to make a further payment of $400,000 to the plaintiff (totaling $542,000 including prior distr…