New Zealand Case Law: Decisions & Judgments

Topic

Beneficial ownership

Legal area

Court

17 May 2023

YUE v ZHOU [2023] NZHC 1157

Citation

[2023] NZHC 1157
Court

High Court

The High Court dismissed the appeal because the Family Court's factual findings — that Blockhouse Bay was a project of Mr Wen Zhou and held on trust for him, and that the Hobson Street apartment was substantially funded by the Yue parents with the apartment retaining character as the family home — were supported by the evidence and no other reasonable conclusion was open on the record; credibility and weight determinations were properly made by the trial judge and not overturned on rehearing.
9 May 2023

WANG v GUANGZHOU DONGJIANG PETROLEUM SCIENCE & TECHNOLOGY DEVELOPMENT COMPANY LTD [2023] NZHC 1087

Citation

[2023] NZHC 1087
Court

High Court

The beneficial interest in the One Pure 25% shareholding remains with Mr Kang because clause 12 of the shareholders agreement does not automatically effect a transfer of beneficial ownership without provision for consideration or a proper transfer mechanism; clause 12 required a transfer notice in accordance with the company constitution (which does not exist) and contemplated purchase or liquidation mechanisms, so the interim charging order should not be varied to exclude the One Pure shareholding.
13 Mar 2023

RAEWYN PHYLLIS COOPER v MARCUS ROBERT WILLIAM PINNEY [2023] NZCA 62

Citation

[2023] 2 NZLR 455
Court

Court of Appeal

The Court of Appeal dismissed both the appeal and cross-appeal. Applying trust law with a purposive PRA lens the Court concluded the MRWT was a valid trust (not a sham or illusory) and must be assessed by ordinary fiduciary principles; while trustee powers can in some circumstances amount to a general power of appointment and thus be 'property' under the PRA, on the facts the Court dismissed challenges and no relief altering the trust corpus was ordered.
27 Feb 2023

GRACEWOOD INTERNATIONAL LTD v ZHAN [2023] NZHC 307

Citation

[2023] NZHC 307
Court

High Court

The Court granted freezing and ancillary orders against the first respondent because Gracewood demonstrated a good arguable case on its Hong Kong guarantee claim (including an arguable basis to seek annulment of the bankruptcy adjudication and a contractual clause purporting to preserve liability despite discharge), showed a real connecting link to New Zealand, and established a real risk of dissipation from past conduct and lack of asset disclosure; the balance of convenience favoured preservation and disclosure. The Court declined orders against the second respondent because the evidence di…
16 Jun 2022

TELFORD v TELFORD [2022] NZHC 1412

Citation

[2022] NZHC 1412
Court

High Court

There was a shared common intention that Billy and Eileen would be the primary/majority owners and Jamie and Tessa secondary/minority owners by reason of the parties' circumstances and contributions; quantification based on proved contributions and reasonable valuation of labour yields plaintiffs 73% beneficial interest and defendants 27% beneficial interest; the $80,000 deposit was not a gift to defendants; the second loan is credited to defendants to the extent of actual repayments; relief is reserved for later determination.
6 May 2022

THE COMMISSIONER OF POLICE v TAMIHANA [2022] NZHC 955

Citation

[2022] NZHC 955
Court

High Court

On the balance of probabilities the Court was satisfied that the identified property was directly or indirectly derived from the first respondent's large-scale methamphetamine supply and that Whitby Place was purchased and held beneficially for the first respondent (despite legal title in Mr Allison). Therefore the property was 'tainted property' within the meaning of the Act and an assets forfeiture order was mandatory under s50, vesting the listed property in the Crown and placing it in the custody and control of the Official Assignee.
30 Nov 2021

EMSLIE v WALKER [2021] NZHC 3230

Citation

[2021] NZHC 3230
Court

High Court

Because the applicant established a reasonably arguable claim to a proprietary interest and the factual disputes could not be resolved on affidavit evidence, the caveat must be sustained to protect the applicant's interests; the caveat was therefore upheld subject to conditions requiring prompt commencement and prosecution of substantive proceedings.
15 Oct 2021

SIDDIQUI v SIDDIQUI [2021] NZHC 2776

Citation

[2021] NZHC 2776
Court

High Court

Decline stay because the real and weighty risk that respondents would be unable later to obtain mortgage finance and thereby be deprived of the fruits of the judgment outweighs the applicants' purely financial prejudice; the appeal is not rendered nugatory by refusal to stay and the overall balance of convenience favors respondents.
21 Jun 2021

CHOUBEY v FIVESTART PROPERTIES LTD [2021] NZHC 1461

Citation

[2021] NZHC 1461
Court

High Court

On balance and by inference from contemporaneous documents and conduct the Court found the parties entered a partnership to acquire the Monk Road property with profits to be shared equally after reimbursement of contributions; the Court rejected defendant's account that $57,000 was repaid (found no reliable evidence of the alleged $40,000 and $17,000 cash repayments) and found the power of attorney was not proved to have been signed by Ms Choubey; accordingly plaintiffs retain a beneficial interest and are entitled to relief including an accounting and division of net sale proceeds or buyout.
28 May 2021

SIDDIQUI v SIDDIQUI [2021] NZHC 1234

Citation

(2021) 22 NZCPR 342
Court

High Court

On the facts the defendants, while registered owners, held 126A Gloucester Road on institutional constructive trust for the plaintiffs because of the defendants' conduct, the mutual understanding at purchase, and the plaintiffs' longstanding contributions; defendants' claims of tenancy/licence and Land Transfer Act fraud failed; Court ordered defendants to transfer title to plaintiffs subject to payment of outstanding mortgage and quantified net adjustments totalling NZD 92,852 and further mortgage payments since 30 April 2021; alternative sale procedure and costs directions provided.