Bellis v Challinor [2015] EWCA Civ 59

Wills & Trusts Law Reports | January/February 2016 #156

The case concerned a property investment scheme relating to land at and around an airport known as Fairoaks (the Fairoaks scheme). The Fairoaks scheme was the last in a substantial series of schemes (the Albemarle schemes) which, prior to the Fairoaks scheme, were unregulated collective investment schemes promoted by Egan Lawson (later ECS after its takeover by Erinaceous Group PLC (Erinaceous)) involving investment through a single purpose vehicle (SPV). The underlying subject matter of each scheme consisted of either commercial or development property or a mixture of both. The schemes ...

Client Monies: Ascertaining the money trail

Laura John sets out the lessons to be learned from Challinor v Bellis on handling the client account ‘An escrow arrangement is dependant on an enforceable contract or undertaking not to treat the funds transferred by X as the property of Y unless and until the escrow event or condition is satisfied.’This article considers the …
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