Richard Dew and James Egan give an analysis of the current status of the doctrine of illegality and trusts ‘There are two categories of conduct that count for the purposes of the doctrine of illegality: first, criminal acts; and second, quasi-criminal acts which engage the public interest in some way (such as cases involving dishonesty …
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Sukhninder Panesar examines a case where one of the beneficiaries to a common intention constructive trust of land had been involved in an illegal purpose ‘O’Kelly provides an excellent example of when a constructive trust will be imposed in cases where the legal title is taken in the sole name of one of the cohabiting …
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Wills & Trusts Law Reports | December 2014 #145The claimant Arthur Watts (Arthur) sued his brother James Watts (James) in respect of trust transactions in 1998.
In 1967 Geoffrey Watts, the father of Arthur and James, made a settlement in favour of his children and grandchildren. In 1976 this trust fund was split into separate trust funds for each of Geoffrey’s children. James was one of the trustees of Arthur’s trust fund. The main beneficiaries were Arthur in his lifetime and thereafter his legitimate children. Clause 4 allowed the trustees to pay all the capital to Arthur if they considered it to be to his advantage...
Wills & Trusts Law Reports | November 2014 #144The appellant was a property dealer and the respondent was a foreign exchange broker, who had a personal spread-betting account with IG Index. In August 2009, a third party informed the appellant of a deal offered by the respondent that involved a bet on the movement in the value of shares in Royal Bank of Scotland (RBS). The defendant claimed to know people who sat in on meetings between the heads of RBS and officials from the government, and it was expected the Chancellor would make a public statement which would have an effect on the share price of RBS. Following an initial telephone ...
Wills & Trusts Law Reports | December 2013 #135The transcript of this judgment is reported in part from para 164 onwards and starts with a discussion of the law. No part of the report provides a factual narrative.
Held (allowing the wife’s claim for financial relief):
The court had power on divorce to order a party to the marriage to transfer to the other party such property as may be so specified to which that party was entitled, either in possession or reversion. In this case almost all the wealth created by the husband during the course of the marriage was held through offshore company structures and the ques...
Wills & Trusts Law Reports | December 2013 #135The claimant (Mr Patel) became friends with Mr Georgiou in 2004. Mr Patel was introduced to the defendant (Mr Mirza) at the end of 2008 or the beginning of 2009 by Mr Georgiou, probably at one of the poker games Mr Georgiou hosted every Friday evening.
Mr Mirza was and is employed as a foreign exchange broker and also had a personal spread-betting account.
In August 2009 Mr Patel stated that he was approached by Mr Georgiou with a deal he had been offered by Mr Mirza – Mr Mirza would use his spread-betting account to bet on the movement of RBS shares and that Mr Mirza knew ...
Joseph Jaconelli finds Constructive and Resulting Trusts an invaluable guide for practitioners This volume consists of 12 essays: six each on constructive and resulting trusts. Its origins are in a conference held in April 2009 at King’s College London. There already exist specialist treatments of the two types of trust in question: Oakley’s Constructive Trusts, …
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