8 Jun 2020
CHIEF EXECUTIVE OF LAND INFORMATION NEW ZEALAND v CHOR LTD [2020] NZHC 1254
- Citation
- [2020] NZHC 1254
- Court
- High Court
Where beneficial ownership of the property remained with the original beneficiaries from acquisition to sale, the quantifiable gain is attributable to the trust and a penalty equivalent to the net quantifiable gain is appropriately imposed under s 48(1) and (2)(b); accordingly Chor must pay $539,914.47 and $15,000 towards costs.