Two decades after Wayne Francis’ death, his widow and a daughter from his first marriage settled a drawn out dispute over assets valued at nearly $200 million. This is the final resolution of money disputes that surfaced shortly after Wayne’s 1999 death with allegations then that widow Deborah had gone on a ‘spending spree.’
His most enduring legacy is Christchurch-based Wayne Francis Charitable Trust, supporting young people. Daughter Helena chairs this Trust.
The High Court was asked for consent to an agreed global financial settlement encompassing Mr Francis’ will, his family trusts, and the charitable trust he established one week before death from cancer.
This settlement sees widow Deborah receiving: an immediate cash payment of $300,000; assets of $15 million settled on a new family trust for benefit of herself and her children; plus forgiveness of all debts she owes Francis entities.
In turn, she agreed to surrender all rights as a beneficiary of his family trusts.
She also agreed to give up all litigation against her late husband’s estate and his business entities. She had previously filed court proceedings both challenging the extent of assets left her in his will and questioning trustees’ interpretation of trusts he had established. Particularly galling, had been trustees’ actions in reducing an annuity she was previously receiving.
Justice Dunningham gave Trusts Act approval to the agreed settlement which had been negotiated at a 2024 mediation.
Francis v. Mortlock - High Court (1.11.24)
25.024