The Glenn Family Trust

February 2nd, 2013 at 9:09 am by David Farrar

Simon Collins reports at NZ Herald:

Philanthropist Sir has been forced to freeze grants to projects aimed at ending family violence, apparently because of a dispute in his own family trust over how his fortune should be spent.

Sir Owen vowed last July to give one-tenth of his $800 million fortune to fighting child abuse here.

But the Weekend Herald has learned the money has not arrived. It is understood that the foundation has been told the overseas-based trustees believed it was no longer appropriate to distribute philanthropy in NZ.

Sir Owen, who built up his fortune in a global logistics firm, flew suddenly this week to the United States, where his sons live.

Former Auckland University Business School dean Dr Barry Spicer has resigned as chief executive of the Auckland-based Glenn Family Foundation, and one of its two other staff also left suddenly this week.

In a brief statement, Sir Owen said he had taken over as the foundation’s chief executive and was “in discussions with the trustees” of his family trust, which is separate from the foundation, about the “timing” of the release of funds to the foundation.

This is somewhat intriguing. Normally a family trust squabble would be of no public concern, but in this instance it has impacted some publicly committed projects so naturally has hit the media.

What is intriguing is that the trustees seem to be disagreeing with the person who I assume funded the trust and presumably appoints them. Of course it all depends on how the trust deed is worded.

Regardless a shame that the dispute has disrupted the laudable intentions of Sir Owen.

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25 Responses to “The Glenn Family Trust”

  1. kowtow (8,784 comments) says:

    The shame is that charity needs to be spent in New Zealand, a once first world country interms of family relationships and income.

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  2. Andrei (2,668 comments) says:

    Lol “Family violence” is not a problem to be fixed by throwing money at it, only silly liberals could believe that

    “Family violence” of course is a thing beloved of social engineers, it gives them a hook to come up with “policies” to deal with it which actually exacerbate the problem which gives them excuses to get ever more involved.

    But “family violence” remains exceeding rare in what used to be considered a family, ie Mum. Dad, three kids and a dog set ups, rather it is in modern socially engineered, taxpayer funded and encouraged pathological arrangements where it flourishes and can be used to engender hand wringing along with knee jerk responses which can be used to further undermine the old fashioned families and their formation where it doesn’t occur.

    Liberals will never wake up to their stupidity, they are blinded by their lust for power gained by degenerating as much of the population as they can so as to better control them

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  3. kowtow (8,784 comments) says:

    Andrei

    Excellent point about the state and interfernce in the family. That’s why there are moves afoot in Europe to redefine (here we go again) what “abuse ” is so that they have an even broader remit to bust down your door, haul you to court and break the family up.

    http://www.bbc.co.uk/news/education-19640257

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  4. Reid (16,639 comments) says:

    Normally a family trust squabble would be of no public concern, but in this instance it has impacted some publicly committed projects so naturally has hit the media.

    That’s still no reason for a real media to run it. It’s “newsworthy” only in the sense celeb goings-on are newsworthy. Sure, idiots are fascinated in such and they buy the media product to gawk at the goings-on but if that’s the reason for the media running worthless prurience then why don’t they just come out of the closet and admit they’re an entertainment vehicle to sell advertising and not at all related to the Fourth Estate whose social function is and always has been entirely different.

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  5. gump (1,664 comments) says:

    @kowtow

    The proposals in the article you linked look very sensible to me.

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  6. thedavincimode (6,880 comments) says:

    Lol “Family violence” is not a problem to be fixed by throwing money at it, only silly liberals could believe that

    Andrei

    Always good to get the Christian perspective on these sorts of issues, but I didn’t notice any suggestion that Glenn was intending to “throw money” at the issue, or indeed how he was proposing that the grant be spent.

    Presumably you have some greater insight into this so perhaps you could share with us precisely what Glenn is intending to do and why that will fail to achieve anything at all.

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  7. pq (728 comments) says:

    Slightly off family abuse subject but not too much I hope , my neighbours had a terrible argument the man and his wife and it was violent, but there seemed no threat to life. There was some physical activity I thought so I went outside. This is a good street in Christchurch and believe me this was an unlikely incident. I did not go to speak to the man neighbor because he was already going through verbal abuse hell. There had been some sexual infidelity, and they were completely out of control. My other neighbor he came across it was 2am, and I said what do I do , and he said you stand here beside me until it is finished , then I go inside your place you give me a cup of coffee and I did. The next morning nothing had happened

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  8. RRM (10,034 comments) says:

    Cue a whole lot of crap comments about how rich pricks never pay their share…?

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  9. kowtow (8,784 comments) says:

    gump you’re a chump.

    the proposals listed are wat they want you to think and approve of.

    dad says to kid Who are you talking to on facebook etc,I don’t approve of that guy etc.You’re spending too much time on playstation etc

    Kid complains and the stasi come knocking. Don’t believe it happens?

    Wake up.

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  10. pq (728 comments) says:

    I would be amazed if Owen Glenn is not executive trustee,
    and Settlor with power of appointment or dismissal

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  11. barry (1,317 comments) says:

    Now if he was putting money into getting the violence out of the maori culture (IE: ban the haka) then Id be interested because thats the only solution to most of the violence in NZ.

    But what hes doing at the moment is a total waste – and I think the trustees have become aware of that and are a little worried that they might be held liable for wasting the money – which the very well might be.

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  12. Reid (16,639 comments) says:

    Looks a bit dramatic doesn’t it, flying off there. I mean, was the phone broken?

    I wonder if Owen’s going to give the boys a good britches-down thrashing, at some point in the proceedings?

    Maybe they should start an ipredict stock on that.

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  13. Rex Widerstrom (5,354 comments) says:

    @Barry

    Ban the haka? Are you serious?

    So by that logic the US, worried at present about gun deaths, should presumably ban the hundreds of Civil War re-enactment groups that are popular pastimes, particularly in the south?

    Go to YouTube and search “haka flashmob”. You’ll find several videos showing groups of presumably expat NZers assmbling, occasionally in their hundreds and certainly in numbers of a dozen or more, to perform the haka everywhere from in front of the Sydney Harbour Bridge to a suburban Brisbane mall. In one you can see a policeman in full uniform, with a gun on his hip, join in. It’s superb and, for an expat, very moving.

    And not one of those performances has ended in violence. How can this be?!

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  14. Tauhei Notts (1,749 comments) says:

    The person who has the power to hire and fire trustees effectively controls that inter vivos trust. If Owen Glenn did not attend to that simple matter at the time the deed of trust was prepared I will be astounded. This is very basic trust law.
    Just as the person with the power to hire and fire Television New Zealand directors effectively controls that organisation.

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  15. duggledog (1,589 comments) says:

    Andrei @ 9.32 a.m., couldn’t have put it better. But it’s what you do once you’ve made your pile; start thinking about St Peter & shit, offload some gold.

    Still you never know, at least he’s doing it. If it’s wisely invested into, say, agricultural technical courses, more schools like Dilworth etc then all good.

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  16. Manolo (14,086 comments) says:

    You can choose your friends, but not your family.

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  17. krazykiwi (9,186 comments) says:

    DVM –

    [Andrei,] Always good to get the Christian perspective on these sorts of issues

    An identical comment from someone of an unknown religious belief would not have elicited that sneering preamble. Why is it necessary to mock?

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  18. Dexter (312 comments) says:

    Please don’t generalize Andrei’s ignorance as the Christian perspective. It’s just a sheltered ignorant perspective spewed by someone with an agenda who has absolutely no first hand experience of how the other half truly live.

    Stupidity is non-denominational and Andrei has been peddling his particular brand for years.

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  19. Andrei (2,668 comments) says:

    Let me explain to you something Dexter – those who go on about “domestic violence” have zero interest in fostering good, healthy, life giving, sustaining relationships between men and women, just the reverse in fact they seek to destroy them where ever they can.

    They do not highlight the positive, ever, and hold it up as a shining light as an example to follow, they highlight the negative and present it as the norm.

    And when they do encounter men and women living together well and in harmony – they mock them

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  20. Fox (206 comments) says:

    Huh? What family violence?

    Thankfully with the brilliantly well thought-out anti smacking bill in place, this is all a thing of the past.
    After all, now before dad takes a baseball bat to his son, and beats him within an inch of his life, he’ll obviously stop and think; ” oops wait…that’s illegal…can’t do that anymore”.

    No sir, that $80 million would clearly be wasted money.

    It’s a relief to know John Key didn’t stomp all over the opinion of 90% of the population for nothing.

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  21. gump (1,664 comments) says:

    @kowtow

    Yes – I don’t believe that the examples you mentioned actually happen.

    Your paranoia is astonishing.

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  22. Johnboy (17,092 comments) says:

    Meanwhile the Johnboy family trust continued to dispense the normal, free, Saturday fish and chips to all it’s beneficiaries! :)

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  23. Longknives (4,889 comments) says:

    “Go to YouTube and search “haka flashmob”….. perform the haka everywhere from in front of the Sydney Harbour Bridge to a suburban Brisbane mall. In one you can see a policeman in full uniform, with a gun on his hip, join in. It’s superb and, for an expat, very moving.”

    Hakas are fucking cringeworthy and embarrassing. I saw a load of grossly drunken kiwis doing one in London and I was fucking ashamed…

    Why we think the world wants to see us poking our tongues out and going all googly eyed is beyond me…

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  24. V (751 comments) says:

    Good on the trustees for questioning the spend. I don’t see how throwing any money at this particular problem is going to solve anything, until people take responsibility for their own actions. The trustees have obviously recognised a blackhole when they see one.

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  25. pq (728 comments) says:

    V (536) Says above
    February 3rd, 2013 at 1:05 am
    Good on the trustees for questioning the spend. I don’t see how throwing any money at this particular problem is going to solve anything, until people take responsibility for their own actions.

    but
    Tauhei Notts (1,196) Says:
    February 2nd, 2013 at 4:30 pm
    The person who has the power to hire and fire trustees effectively controls that inter vivos trust. If Owen Glenn did not attend to that simple matter at the time the deed of trust was prepared I will be astounded. This is very basic trust law.
    Just as the person with the power to hire and fire Television New Zealand directors effectively controls that organisation

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