Zedra Fiduciary Services (UK) Ltd v HM Attorney General [2024] WTLR 363

Wills & Trusts Law Reports | Spring 2024 #194

In 1928 Gaspard Farrer established a fund which he intended, in due course, to pay off the National Debt in its entirety, either by itself or in combination with other funds established for the same purpose. The fund was specified to be held until a specified date of application for investment and accumulation, and thereafter ‘to transfer and pay the same to the National Debt Commissioners to be applied by them in reduction of the National Debt’, with a power at any time to determine that ‘part of the National Fund should be forthwith applied in reduction of the National Debt.’ Subsequen...