October 2015 #170 – Law Journals

Proprietary Estoppel: One day all this will be yours

William Batstone examines Davies v Davies [2015], in which a farmer’s son secured the freehold of the farm that his father had encouraged him to make his life’s work by promises that it would eventually be his ‘If James had been made aware of his father’s wishes in 1999, when he was in his early …

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Money Laundering: Vigilance at all times

Simrun Garcha discusses the implications of Credit Agricole Corporation and Investment Bank v Papadimitriou [2015] ‘The court accepted the argument that “the arrangement could not have any commercial purpose other than money laundering” and the complex structure involved would have caused a reasonable bank to become suspicious of improper motive.’ The Privy Council’s recent decision …

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FATCA: Has the tornado passed?

Peter O’Rourke looks at current compliance for financial institutions ‘There is regrettably no way to avoid the implications of FATCA or its offspring. There is no switching channels or hiding behind a cushion in the hope it will go away.’ It crept up on us like a dust bowl sand storm, swept us up and …

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Musings From Manchester: The harm before the storm

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Geoffrey Shindler reflects on the many dangers to note in our professional lives ‘There is no such thing as a quick will and there is no such thing as a simple will. Or if there is, it is prefaced by the words dangerous, incorrect or wrong. Nothing done in a hurry is ever going to …

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Trusts: Sub-trusts and formality

Is a sub-trust a disposition for the purposes of s53(1)(c) of the Law of Property Act 1925? Mark Pawlowski and James Brown assess the current position ‘When an intermediate trustee makes a declaration of trust of their equitable interest, they do not deprive themselves of that interest but simply create a second equitable interest held …

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Quantum: Of greatest benefit?

The Court of Appeal judgment in Ilott v Mitson highlights the problem of quantifying reasonable financial provision for the adult child under s2 of the I(PFD)A 1975. Miranda Allardice explains ‘To some the passing of wealth outside the immediate family is anathema; to others it is a valuable freedom.’ The issue of quantum in the …

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LPAs: When will your appointed attorneys in an LPA be allowed to make decisions?

Lucie Sleeman sets out how the Office of the Public Guardian is affected by recent developments in mental capacity law ‘Under the Mental Capacity Act 2005 the Court of Protection exercises statutory jurisdiction over the property and affairs of the mentally incapacitated person but the practical administration and supervision of the person’s affairs are carried …

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