Investec v Glenalla Neutral citation: [2018] UKPC 7

WTLR Issue: Spring 2019 #174

The Background

The Privy Council heard eight appeals arising from the management of the Tchenguiz Discretionary Trust (“TDT”) between March 2007 and October 2008.

The TDT is a discretionary trust governed by the law of Jersey; in the period in question it had two trustees which were governed by Guernsey law: Investec Trust (Guernsey) Limited (“Investec”) and Bayeux Trustees Limited (collectively “the Trustees”)...

Akers v Samba [2017] UKSC 6

WTLR Issue: Summer 2017 #168

Mr Al-Sanea was the legal owner of shares in five Saudi Arabian banks, including Samba Financial Group (appellant). As a result of six transactions between 2002 and 2008 Mr Al-Sanea agreed to hold the relevant shares in trust for Saad Investments Co Ltd (SICL), a company subject to the laws of the Cayman Islands...

Credit Agricole v Papadimitriou [2015] UKPC 13

WTLR Issue: January/February 2016 #156

In 2000 Mr Robin Symes, an art dealer, sold for US$15m a collection of art deco furniture belonging to the respondent. The respondent did not give her consent to the sale, and Mr Symes had no right to sell the collection. US$10.4m of the sale price was paid to a Panamanian company, Tradesk Limited...

Brazil v Durant [2015] UKPC 35

WTLR Issue: October 2015 # 153

The effective plaintiff was the municipality of Sao Paulo (the municipality). The Federal Republic of Brazil was nominally the plaintiff because its constitution required it to be a party to any action brought outside Brazil by a Brazilian public authority...

Crociani & ors v Crociani & ors [2014] UKPC 40

WTLR Issue: July/August 2015 #151

By a trust deed dated 24 December 1987 (trust deed) Edoarda Crociani (settlor) settled a promissory note on herself and others for the benefit of her daughters, Cristiana Crociani (Cristiana) and Princess Camilla de Bourbon des Deux Siciles. The trust deed conferred extensive powers on the trustees in respect of both capital and income, including power to pay the whole or any part of the trust funds to another trust...