Wills & Trusts Law Reports | January/February 2017 #166The representor was the trustee (T) of a Jersey law governed discretionary trust (R) established in 1999 and valued at £402,000. The first respondent was the settlor (S). The class of beneficiaries included S’s wife and three children.
When R was established, S described himself as a civil engineer and informed T that the funds settled were proceeds of engineering consultancy contracts which he had worked on over the last 20 years. He did not disclose that he held public office in Mozambique.
In 2010, T discovered that a company had been convicted in England of paying bribe...
Wills & Trusts Law Reports | November 2015 #154The claimants, who were a group of companies engaged in the business of exploration and exploitation of gas reserves in Ukraine, brought claims against, inter alia, the fourth and fifth defendants (Vivcharyk defendants), respectively the former chief operating officer and the company controlled by him, in relation to alleged bribes or secret commissions which, directly or indirectly, they received in connection with commercial contracts for the supply or acquisition by the Cadogan Group of drilling equipment and services, two gas plants and a company. Proceedings were issued on ...
Wills & Trusts Law Reports | May 2013 #129The claimants (Investor Group) appealed from the decision of Simon J ([2011] EWHC 2308 (Ch)) that the Investor Group was entitled to a personal, but not a proprietary, remedy against Cedar Capital Partners LLC (Cedar). There was no appeal from Simon J’s decision that Cedar was liable to account in equity to the Investor Group.
Monte Carlo Grand Hotel in Monaco was owned by Monte Carlo Hotel SAM, a Monegasque company. The company’s share capital was owned by Monte Carlo Grand Hotel Ltd, a BVI company. In September 2004, the BVI company was interested in selling the hotel, either by...
In the first of two articles, Sukhninder Panesar discusses different approaches to equitable tracing in light of the Court of Appeal decision in Sinclair ‘Until the decision of the Privy Council in AG for Hong Kong v Reid [1994], English law had argued that the right to assert equitable ownership over unauthorised gains in the …
Continue reading "Equitable Tracing: Proprietary base needed?"
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