21 Jul 2017
GOLDIE v CAMPBELL & ANOR [2017] NZHC 1692
- Citation
- [2017] NZFLR 528
- Court
- High Court
The High Court dismissed the appeal because the trial Judge correctly found that Mr Campbell's powers were materially fettered — by the no-benefit clause, the restriction on trustees acting alone (excepting a corporate trustee), and the limitation on removing original discretionary beneficiaries — and that appointment/removal powers were to be exercised as fiduciary powers subject to fraud-on-a-power constraints; those fetters prevented Mr Campbell from obtaining effective sole beneficial ownership of trust assets pre-vesting and his powers did not constitute relationship property under the P…