Law & Regulation

Trusts distancing themselves from prominent businessman

Michael Andrew
Thu, 07 Apr 2022

Trusts distancing themselves from prominent businessman
A blessing application was sought with the high court. (Photo: Supplied)
Michael Andrew
Thu, 07 Apr 2022
The Auckland high court has allowed trustees of two “substantial” charitable trusts worth $30 million to continue their bid to dissociate from a wealthy businessman who was convicted of indecent assault in March last year.The trustees sought an urgent blessing order from the court in late February, which under the Trusts Act would protect them from liability while they seek to implement a restructure and limit the association between their widely distributed assets and the businessman.The prominent businessman, who was once a t...

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