Huka Lodge ownership restructure gets okay

The honorary Dutch consul to New Zealand, Alex van Heeren, has rejigged ownership of Huka Lodge, near Taupo.

The Overseas Investment Commission cleared a $17 million deal for the lodge to be sold to Dutch company Saraceno Holdings.

But it noted the 11.63ha deal was "essentially a transfer of assets for family and asset protection measures" and that van Heeren was putting his global assets into trust entities. The commission said Saraceno would hold shares in the lodge "as bare trustee" for van Heeren. A $2.45 million deal for trusts to buy an exclusive residential property next door to Huka Lodge was also cleared. Van Heeren bought the Huka Falls Rd property in 1988 and his family uses it when they are in New Zealand.

A third deal, involving a $675,000 property transaction, was also cleared. Van Heeren bought this 4.8ha property in 2003 and wants to use it to expand the lodge estate.

In August, it was reported the multimillionaire was being sued by former business partner Michael Kidd for half the empire the pair built in the 1970s and 80s. They jointly owned Huka Lodge and other enterprises here and around the world.