21 Dec 2020
PRESTON v PRESTON [2020] NZCA 679
- Citation
- [2020] NZCA 679
- Court
- Court of Appeal
The 2010 amendment to the family trust was a nuptial settlement for s 182 purposes, but s 182 relief was properly declined because the trust's assets and primary objects predated the relationship and were directed to settlor's children and the applicant made no material contributions to those assets; the s 9A claim failed because any attributable increase in value of the retained EBTL share was marginal (de minimis); HFT validly exercised its pre-emptive purchase right in November 2015 and is entitled to specific performance to complete the purchase at the November 2015 price of $337,000, bec…