3 Jun 2020
APIC TRUSTEES LTD TRADING AS VERPLAETSE TRUST v FLANDERS FIELD INVESTMENT LTD [2020] NZHC 1200
- Citation
- [2020] NZHC 1200
- Court
- High Court
Court held the Verplaetse Trust was validly constituted under New Zealand law, Erwin Verplaetse is settlor and beneficiary with the power to appoint and remove trustees, the trust deed governs the trust, Flanders Field was trustee until removed on 30 July 2018 and APIC was validly appointed; documents and transfers relied on by Van Hulle were ineffective (forged or invalid) and could not defeat the settlor's powers; declarations as to these matters were appropriate but vesting orders over foreign assets were deferred because of jurisdictional, practical and enforcement concerns.