Howarth v HMRC [2019] WTLR 869
Wills & Trusts Law Reports | Autumn 2019 #176The Appellant was the settlor of a family trust based in Jersey which, following the merger of two companies, held shares in TeleWork Group plc. Ordinarily a capital gains tax charge would arise on the disposal of the shares but, on the basis of legal advice, it was suggested that this could be avoided if new trustees were appointed before the disposal in a jurisdiction which had no capital gains tax and a double taxation treaty with the UK. In June 2000 the Jersey trustees retired in favour of new trustees resident in Mauritius, in August 2000 the shares were sold in the course of a flo...
Vimercati v BV Trustco Ltd & ors [2012] EWHC 1410 (Ch)
Wills & Trusts Law Reports | January/February 2013 #126The claimant, Ambra (A), who had been a beneficiary under the MBV Trust, disputed the price obtained by BV Securities for its 20% shareholding in Air Italy in view of certain subsequent transactions involving Meridiana and Air Italy Holdings, a company in which the third defendant and protector of the trust (G) had an interest through his investment holding company. A also threatened breach of trust proceedings against the trustees. G and the fourth and fifth defendants, his wife and son, remained beneficiaries under the trust but A’s interest had been severed under a deed of appoi...