Charities: The limits of discretion

The Court of Appeal has indicated the extent to which it will control the exercise of discretion by fiduciaries. Robert Pearce QC discusses ‘The Chancellor’s decisions that the grant was in the best interests of the charity and his direction to L to vote in favour of it were given simultaneously, giving L no opportunity …
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Lehtimaki v CIFF [2018] EWCA Civ 1605

Wills & Trusts Law Reports | Summer 2018 #172

The Children’s Investment Fund Foundation (UK) (‘CIFF’) was incorporated as a company limited by guarantee without a share capital on 8 February 2002 with the aim of improving the lives of children in developing countries. It had been founded by two of the respondents, Sir Christopher Hohn and his then wife, Jamie Cooper. Each of them, both of whom were members and trustees, had contributed to the charity’s success. The only other member, though not a trustee, was the Appellant. The present litigation had its origins in the breakdown of the relationship between Sir Christopher Hohn and J...

Futter & anr v HMRC; Pitt & anr v HMRC [2013] UKSC 26

Wills & Trusts Law Reports | July/August 2013 #131

The first appeal concerned two settlements, made with non-resident trustees, by Mr Futter. Considerable ‘stockpiled’ gains were rolled up while the trusts were non-resident and, in exercise of the powers conferred by the trusts, new resident trustees were appointed and capital was distributed to Mr Futter and his children in the mistaken belief that the ‘stockpiled’ gains, which would be attributed to them, would be absorbed by allowable losses that had been realised, so that no liability to capital gains tax would arise. In advising as to the effect of s87 of the Taxation a...