Harvey & anr v Van Hoorn [2023] WTLR 1323
Wills & Trusts Law Reports | Winter 2023 #193This was a claim for an order under the Variation of Trusts Act 1958, or alternatively a direction that the trustees of a settlement be at liberty to implement an arrangement involving the release and reimposition of certain powers. The claimants were the only trustees of the trust, and were also, respectively, the widow of the settlor, who had become the trust’s life tenant upon his death, and the settlor’s only child, who was also one of the objects of a discretionary power of appointment under the trust. They were concerned about the capital gains tax consequences that would ...
Grand View Private Trust Co Ltd & ors v Wong & anr [2023] WTLR 149
Wills & Trusts Law Reports | Spring 2023 #190The Global Resource Trust No.1 (the GRT) was created by a declaration of trust dated 10 May 2001. It was accepted that the true economic settlors were two brothers, YC Wang and YT Wang (the founders), who had built a group of companies from the 1950s into one of the largest business conglomerates in Taiwan (FPG Group). They had died in 2008 and 2014 respectively.
Shortly after the GRT was established, Grid Investors Corp, an investment holding company ultimately owned by the founders which held shares in FPG companies, was transferred to the GRT trustee. The value of those shares ...