Lehtimäki & ors v Cooper

Wills & Trusts Law Reports | Autumn 2020 #180

H and C were two directors and trustees of a charitable company limited by guarantee. They, together with L, were the members of the company. In July 2015 H and C agreed that, subject to the approval of the Charity Commission or the court, C would resign as a director and member of the company and the company would make a grant of $360m to a charity founded by C.

Companies Act 2006, s217 provides that:

‘A company may not make a payment for loss of office to a director of the company unless the payment has been approved by a resolution of the members of ...

London Capital & Finance plc v Global Security Trustees Ltd [2019] EWHC 3339 (Ch)

Wills & Trusts Law Reports | Summer 2020 #179

The claimant raised money from private investors for the purpose of making loans to small and medium enterprises. The money was raised by issuing ‘mini-bonds’ for periods of up to five years, at varying rates of interest. Over a period of around two years, £237m was raised from more than 11,500 investors. Security for the bonds was provided by the claimant executing a debenture in favour of the defendant, as a ‘security trustee’. By December 2018, when the FCA issued a first supervisory notice on the claimant on the basis that its promotional material was ‘misleading, unfair and unclear’...

Daniel v Tee Neutral citation: [2016] EWHC 1538 (Ch)

Wills & Trusts Law Reports | Autumn 2018 #173

The defendants were professional solicitor trustees of a trust established by the will of the claimants’ father. The claimants were the beneficiaries of the will trust, who were minors when their father died. The deceased’s will provided that the claimants’ shares would be held on trust for them until they turned 25, so the defendants invested the trust fund with the assistance of professional investment advice given by Taylor Young Investment Management Ltd (Taylor Young).

The claimants subsequently sought compensation from the trustees in the sum of £1,476,076 on the basis that ...