Wills & Trusts Law Reports | June 2013 #130The appellants appealed from a first instance decision by Mr Recorder Chapman QC on 15 May 2012, which refused their application for an order for rectification of a conveyance that was executed on behalf of their mother (Mrs Day) by her solicitor (Mr Froud) who was acting as her attorney. The conveyance was dated 6 June 1985. The conveyance had transferred Mrs Day’s home from her sole name into the names or her and her son (the respondent) as beneficial joint tenants. The purpose of the transaction was to enable borrowing to be secured against the property by the respondent. Mrs Day died...
David Catchpole and Alexandra Clark analyse Lawie to discern the court’s current approach to mistake and rectification Rectification is a discretionary remedy and the court will take into account all of the evidence put before it, whether in support of or in opposition to the application, but will not make the case for a party …
Continue reading "Mistake And Rectification: Achieving fairness"
This post is only available to members.
Wills & Trusts Law Reports | November 2012 #124The first defendant (Mr Woodward) and the second defendant (Ms Ilett) were the trustees of two pension schemes (the Pennines and the Mendip Retirement Benefit Schemes) established by deeds of trust dated 23 August and 9 September 2011. A scheme for ‘pensions liberation’ was devised and implemented by and for Mr Woodward and John Davies (Mr Davies) utilising the third, fourth and fifth defendants, which were entities controlled by them. Members of other pension schemes were encouraged to transfer the cash equivalent of their benefits to Mr Woodward and Ms Ilett as trustees of the Pennines...
Wills & Trusts Law Reports | July/August 2012 #121At the end of the 1940s, the Savernake Estate, which was the subject of these proceedings, was held by a company owned by the 7th and 8th Marquesses of Ailesbury. Between 1949 and 1951 the company was replaced by a partnership. There was a conveyance executed in 1951 by which the estate was conveyed to the Marquesses on trust for sale as part of their partnership. The partnership property also included the family collection of paintings and other chattels. By 1963, there was an agreement that the partnership would be carried on by the 8th Marquess, who had a 51% share, and the trustees f...
Judith Morris compares the approach of the Jersey court in Re BB, A and C with that of the English court in Jasmine Trustees Ltd v Wells Hind ‘Persons who have not been properly appointed as trustees, if they have acted in good faith, believing themselves to be duly appointed, are entitled to indemnity in …
Continue reading "Trustees: When is a trustee not a trustee?"
This post is only available to members.
Paul Whitehead compares current attitudes towards trusts around the world ‘The trust has always had significant flexibility enabling it to be tailored to different client requirements and providing the possibility of higher degrees of control by a settlor or protector, as long as it’s consistent with the trust concept overall and adhered to in practice.’ …
Continue reading "Guest Editorial: ‘There is nothing like…’ a trust ?"
This post is only available to members.
Zoë Sive discusses the divergent approach of the Jersey courts in the recent case of Re R [2011] ‘The Jersey decision highlights the extent to which the English and Jersey positions have been affected by the different judicial and jurisdictional attitudes and policies in relation to tax authorities.’ The recent judgment of the Royal Court …
Continue reading "Mistake: Leviathan can look after itself"
This post is only available to members.
Antoaneta Proctor outlines the facts and ramifications of Pitt & anor v Holt & anor ‘In Pitt & anor v Holt & anor Lloyd LJ reached a conclusion that what has become known as the rule in Hastings-Bass is actually not a correct statement of the law.’ Can a receiver of a patient whose offices …
Continue reading "Trustees: Unanticipated outcomes"
This post is only available to members.
Marilyn McKeever looks at the implications for trustees and their advisers in the pivotal case Futter v Futter ‘The purpose of the rule in Hastings-Bass was to protect the beneficiaries, not the trustees. The effect of the new rule in Futter is to reduce that protection significantly.’ In Futter & anor v Futter & ors …
Continue reading "Trustees: Hastings-Bass overturned?"
This post is only available to members.
Geoffrey Shindler ponders the modern means by which we acquire knowledge ‘Is it any wonder that there is more and more litigation surrounding professional negligence? I know that the professional insurers want to reduce this, hence both the amount of information they require and the cost of the premium.’ How much more can we take? …
Continue reading "Musings From Manchester: Overwhelmed by information?"
This post is only available to members.
