Judge allows daughter's claim to divide $20 million estate

Thursday, 23 February 2023

Part of Glass’ estate included the grand Racecourse Hill Homestead near Darfield. Photo from 2016.

During her lifetime, Christchurch woman Libby Glass and husband Denver built a life worth at least $20 million, and promised to help secure her children’s financial futures.

Instead, when Glass died in 2020 she left her estate to her husband and to charities – not a cent for her three adult children.

Her death followed ill health and years of tensions with daughters Lisa and Nicole, according to information provided to the Christchurch High Court in December.

Judge Dunningham granted Lisa’s application, made through the executors of her mother’s estate, to ask the court if the Glass estate could be divided to fulfil financial promises Libby Glass had made to her children.

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The Glasses were each other's second marriages, back in 1987. In the decades since, Denver Glass’s meat processing businesses boomed and Libby Glass, who was raising their youngest children, founded boutique fashion store, Posh of Holmwood, in Merivale.

Over their relationship, the pair had lived in grand homes which they renovated utilising Libby Glass’ “passion for interior design”.

The Christchurch properties included Greystones, Banks Avenue and a historic mansion Daresbury on two separate occasions.

Denver Glass also owns the Racecourse Hill Homestead in Darfield, a 25.8 hectare property which came with its own chapel.

After the Christchurch earthquakes, Glass and her husband created a plan for their estate, which by 2020 was worth at least $20 million.

The couple owned historic mansion Daresbury on two separate occasions.

In it, they allocated $1 million to each of their children during her lifetime, instead of an inheritance.

However, in practice, the money was not gifted to the children directly, instead invested into property owned by Glass and her husband, in which the children could live.

In Lisa’s case, she and her five children moved into an $800,000 home on Kotare St, Christchurch, in 2012.

She didn’t pay rent, but covered the rates, insurance and maintenance on the large, 5 bedroom property. Although it was technically owned by the trust, Lisa understood it to belong to her in practice.

When she and her then-fiance wanted to buy a home of their own in 2017, Lisa thought the Kotare St home could be sold to cover the costs.

But no formal agreement to sell Kotare St and give her the money was made. Lisa found herself in possession of a second home, and said Denver Glass refused to sell Kotare St unless he was listed as the owner of this second home. Lisa was forced to sell the second home at a loss, she said.

Lisa stopped paying the rates and insurance out of protest. While she says she continued to have contact with her mother, brother Stephen – who does not support his sister contesting the estate – claims Lisa cut her off in late 2018.

Meanwhile, sister Nicole was living in a house in Australia. In 2018, Denver attempted to take possession of Nicole’s house. The matter was settled confidentially, with Nicole keeping the house. But the falling out was so great that Nicole’s name was absent from Glass’ obituary in 2020.

The court decision did not determine if Lisa was owed any inheritance, but confirmed she was legally entitled to make a claim.

The Judge said any claim over Libby Glass’ estate would be difficult, as she and Denver had combined their assets for some time.

It wasn’t yet confirmed if Glass invested money into Denver’s business in the early days, or what her domestic labour would have entitled her to within the $20 million estate.