Jason Nickless describes how trusts were applied to resolve the dispute in Wise v Jimenez [2013] ‘Mr Jimenez gave a number of different accounts as to precisely how [the] moneys had been invested. After analysing the evidence, the court was satisfied that the purpose behind the investment of the moneys had not been fulfilled’. On …
Continue reading "Trusts: In the commercial sphere"
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Wills & Trusts Law Reports | September 2013 #132Two sets of proceedings had come before the court, which had involved several applications. An order was made on 8 May 2013 by Deputy Judge Foster, which awarded costs. On 30 May 2013 Deputy Judge Foster set out her reasoning behind that order. The proceedings were in respect of a trust for the primary benefit of Louise Fyfe (the trust). The proceedings related to the successful removal of Mr John Watts (the defendant) as trustee and to a claim against the defendant for misappropriation of trust property (the property) which was in reality bought by a company owned by the trust (Dream St...
Dov Ohrenstein reviews the law relating to reflective losses and derivative claims ‘Pursuant to s260(1) of the Companies Act Act, only a company member can bring a derivative claim. For this purpose “member” includes trustees in bankruptcy and other persons who have been transferred shares by operation of the law.’ Where a wrong is done …
Continue reading "Shareholders: Through the looking glass"
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