Wills & Trusts Law Reports | Summer 2022 #187By a trust instrument dated 29 April 1986 (the 1986 deed), Stephenson Clarke Shipping Ltd, a subsidiary of Powell Duffryn plc and member of the Powell Duffryn group of companies (the PD Group), as the named settlor, settled cash and securities on a discretionary trust for the benefit of employees and former employees of the PD Group (the trust). The trust defined the beneficiaries as ‘the employees and their spouses and dependants and the former employees and their spouses from time to time during the trust period [being the period expiring eighty years from the date of the trust] of the...
Christopher Cant considers a decision providing guidance on the construction of documents registered at HM Land Registry The majority considered that the insertion of a whole clause mistakenly omitted required a rectification order and could not be dealt with as a matter of construction.The recent Court of Appeal decision in Cherry Tree Investments Ltd v …
Continue reading "Conveyancing: A major change in the court’s approach"
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Wills & Trusts Law Reports | December 2011 #115The claimants were trustees of a Jersey property unit trust formed on 17 March 2006 as the vehicle for the purchase of warehouse premises (the property). It was arranged that the vendor of the property would transfer the property to the trustees in return for units, which would then be sold by the vendor to the purchasers. The purchasers were Cantabria Investments Limited (Cantabria) as to 99% of the units and Catalunya Investments Limited (a wholly owned subsidiary of Cantabria) as to 1%. Cantabria was partly owned by Glenmac Limited (Glenmac). Half of Glenmac’s share capital was ...
Matthew Bonye and Alexandra Bethell discuss the merits of the various options when looking to remedy a defective document ‘The requirements to be met in order for rectification to be ordered differ depending on whether the mistake is made by both parties or by only one. Rectification is only available in very limited circumstances.’In a …
Continue reading "Construction And Rectification: To err is human, to rectify divine"
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