Akers & ors v Samba [2017] UKSC 6

Wills & Trusts Law Reports | Summer 2017 #168

Mr Al-Sanea was the legal owner of shares in five Saudi Arabian banks, including Samba Financial Group (appellant). As a result of six transactions between 2002 and 2008 Mr Al-Sanea agreed to hold the relevant shares in trust for Saad Investments Co Ltd (SICL), a company subject to the laws of the Cayman Islands. Compulsory winding up proceedings of SICL commenced on 30 June 2009 and, six weeks later, Mr Al-Sanea in breach of trust transferred the legal title to the relevant shares to the appellant, purporting thereby to discharge personal liabilities which he had towards it. On 19 Augus...

Crociani & ors v Crociani & ors [2014] UKPC 40

Wills & Trusts Law Reports | July/August 2015 #151

By a trust deed dated 24 December 1987 (trust deed) Edoarda Crociani (settlor) settled a promissory note on herself and others for the benefit of her daughters, Cristiana Crociani (Cristiana) and Princess Camilla de Bourbon des Deux Siciles. The trust deed conferred extensive powers on the trustees in respect of both capital and income, including power to pay the whole or any part of the trust funds to another trust. Originally, it was provided that the forum for the administration of the trust and its construction should be governed by the law of the Bahamas. Clause 12(6), howe...