Continue reading "Charity Mergers: A missed opportunity"
Vera Gwendoline Spear (the testator) died on 5 January 2007 leaving a will dated 29 August 1997 (the will). Apart from a specific bequest of the testator’s pet parrot the will left the entirety of the testator’s estate on trust to her executors to be divided in equal shares between the Royal Society for the Protection of Birds, the Peoples Dispensary for Sick Animals, Monkey World Ltd and ‘the Owl Sanctuary Crow Ringwood Hampshire’. The value of the deceased’s residuary estate was approximately £260,000. The claimant was the testator’s sole executor an...
Wedgwood Museum Trust Ltd (the museum company) was insolvent. Directions were sought by the administrators of the museum company as to whether or not a unique museum collection of pottery and other artefacts built up over many years by Josiah Wedgwood and Sons Ltd (the trading company) was available to pay liabilities arising in the insolvency of the museum company.
The museum company was incorporated in 1962 and received the collection as a gift from the trading company in 1964. At the time of the gift, it was not contemplated that the museum company would acquire liabilities. Th...