26 Feb 2015
CLAYTON v CLAYTON CA438/2013 [2015] NZCA 30
- Citation
- [2015] 3 NZLR 293
- Court
- Court of Appeal
The VRPT was a valid discretionary trust (not a sham) because the settlor intended to create a trust and the irreducible core trustee duties remained enforceable, but the settlor's separate general power of appointment to appoint himself as sole beneficiary (cl 7.1) constituted a proprietary right under the PRA and therefore was relationship property to be valued and shared; dispositions to the two education trusts and to certain post-separation trusts (Denarau and Sophia No 7) were made to defeat the respondent's PRA rights so s44 relief or remittal is appropriate; Claymark Trust did not war…