Katharine Elizabeth Preston v Grant Lee Preston and Grant Lee Preston and Fisher Partners Limited as Trustees of the Grant Preston Family Trust - SC 10/2021

A Leave to appeal is granted (Preston v Preston [2020] NZCA 679).
B The approved question is whether the Court of Appeal was correct to dismiss Ms Preston’s appeal in relation to her claim for an award of part of the assets of the Grant Preston Family Trust under s 182 of the Family Proceedings Act 1980.
12 May 2021
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A The appeal is allowed.
B Orders are made that the Grant Preston Family Trust pay the Huntbos Family Trust $141,000 and release any claim to the $192,000 of the funds held on joint account (the Grant Preston Family Trust share of these funds is $102,000 and the Huntbos Family Trust share is $90,000).
C The Grant Preston Family Trust deed is amended by removing the appellant as a discretionary beneficiary.
D Leave is reserved to the parties to seek further directions or orders that may be necessary to give effect to this judgment.
E The first respondent must pay the appellant costs of $25,000 plus usual disbursements. We certify for second counsel. Unless the parties can agree, costs in the Courts below are to be redetermined in those Courts in accordance with this judgment.
9 November 2021