Living at various times in Belgium and England, Erwin Verplaetse inherited some seven million euro when his mother died. Reginald van Hulle, business adviser to Erwin’s late mother, then proceeded to loot this money for his own personal benefit using a New Zealand resident trust company to gain control of Erwin’s inheritance, the High Court was told.
Distant New Zealand became the legal battleground over assets held in Belgium, the United Kingdom and Switzerland. Mr Verplaetse told the High Court a New Zealand trust was established in 2011 to hold his inheritance on the advice of Mr van Hulle. New Zealand registered company Flanders Field Investment Ltd become the corporate trustee, with Mr van Hulle as sole director and Mr Verplaeste as sole shareholder. Lawyer Joanne Thumiger was also added as a director to satisfy New Zealand money-laundering rules which specify all companies must have at least one New Zealand resident director. It was to come out in evidence that Ms Thumiger was in fact an Australian resident who now lives in Singapore.
Mr Verplaeste was confident he had control over his investment; Mr van Hulle would be responsible for day to day paperwork but he could remove Mr van Hulle as director at any time. This confidence was misplaced. The High Court was told Mr Verplaeste became aware in 2016 of substantial sums of money being moved into companies controlled by Mr van Hulle. When he protested, Mr van Hulle produced documents supposedly signed by Mr Verplaeste stating that Mr van Hulle had full ownership of Flanders Fields Investments and consequently ownership of all its assets. Mr van Halle blocked access to the company’s Swiss bank account by telling the bank Mr Versplaeste had mental health issues. Mr Versplaeste provided medical evidence that the only chronic medical problem he faced was high blood pressure; he had no mental health issues. In the New Zealand High Court, Justice Grice ruled documents purporting to transfer ownership of trust assets into Mr van Hulle’s control were a forgery. Mr Versplaeste remained the beneficial owner of all trust assets and his action in appointing Jersey-based trustee company APIC Trustees Ltd as replacement trustee was valid, she said.
Complaints about Mr van Hulle have been laid with authorities in both Belgium and Switzerland, the High Court was told.
APIC Trustees Ltd v. Flanders Fields Investment Ltd – High Court (3.06.20)
20.096