26 Oct 2018
COSSIO v COSSIO [2018] NZHC 2779
- Citation
- [2018] NZHC 2779
- Court
- High Court
JCL shares were relationship property because the evidence established the shares were transferred for value with a binding debt owed to the vendor (debt‑back) rather than gratuitous succession; repayments from dividends reduced the liability but did not convert the nature of the original transaction into a succession/gift. Permathene shares, although acquired via trust distributions, were partly sustained by application of relationship property (a $30,000 interest‑free advance and undrawn salary) such that s 17 may give rise to a compensatory adjustment. The Family Court costs award was set…