Wills & Trusts Law Reports | Autumn 2023 #192In March 2007 Safe Investments Management UK (Safe), an unlimited company, transferred its shares in Gooch Investment (Gooch) to Equity Trust (BVI) Ltd, a trust company (2007 transfer), to be held on the terms of a settlement for the benefit of qualifying employees of Safe (First Staff Remuneration Trust). This transfer followed the transfer of interests in UK business assets (the estate) from the first and second appellants (Mr and Mrs Bhaur) to Safe and from Safe to its subsidiary Gooch. All these transfers took place as part of a tax scheme (scheme) promoted by Mr O’Toole, who operate...
Rebecca McNulty discusses two recent cases from the UK and Jersey courts that emphasise the importance of a complete evidence picture when establishing mistake If the court is to be persuaded that there has been a genuine mistake, it needs to be provided with all relevant correspondence and documents so that such an assessment can …
Continue reading "Offshore: Making the most of mistake"
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A recent case underscores the criteria required to make out a case for mistake as a ground to set aside a trust. Rowan Cope explains A key element of the test for mistake is whether the claimant accepted the risk that the scheme may not work. In Dukeries Healthcare Ltd v Bay Trust International Ltd …
Continue reading "Mistake: Ignorance is not bliss"
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