Wills & Trusts Law Reports | Summer 2017 #168On 20 December 1996 the first defendant settled £150,000 on an accumulation and maintenance trust for the benefit of inter alia the second and third claimant (‘the settlement’). On 11 April 1997 a lease of a certain property was granted to the first defendant. This lease was capable of being enfranchised under the Leasehold Reform Act 1967 (‘the 1967 Act’) such as to enable the first defendant to obtain the freehold interest in the property. On 19 June 1997, the freehold reversion of the lease was sold to the original trustees of the Settlement. On 25 June 1997, t...
Wills & Trusts Law Reports | January/February 2014 #136In April 2003 qualified dentist Anushika Sharma acquired her first dental practice. In January 2007 she acquired a second practice and in July 2007 she was provided with an opportunity to purchase a third. This opportunity prompted a family meeting to discuss Anushika’s expanding empire. Jagesh Sharma (Sunny), Keshbala Sharma and Rajesh Sharma (Anushika’s then husband, mother-in-law and brother-in-law respectively) and Anushika were in attendance. During this meeting it was determined that a company (ADC Ltd) would be set up to purchase the third practice rather than Anushika doing this ...
Rachel Mainwaring-Taylor finds Aerostar a timely reminder of how directors must be aware of their duties when dealing with multiple companies ‘From a commercial point of view, that there is nothing preventing an individual from holding the office of director in more than one company. In such circumstances they will be obliged to act in …
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