Oatley & ors v Oatley Powney & ors [2014] EWHC 1956 (Ch)
October 2014 #143In January 1995 Mr Donald Oatley, his wife Mrs Patricia Oatley, their three sons Andrew, Martin and Michael (the three claimants), and a solicitor, Mr Boyd, signed a deed of settlement. The beneficiaries were the spouses and issue of the claimants. Mrs Oatley died in 2002. Mr Oatley contracted cancer in 2006 and died in January 2007.
The Oatleys own a farming company with 4,333 shares owned by each claimant and 13,001 by the settlement. In 1985 Mr and Mrs Oatley created two discretionary trusts for some of their shares of the company, with the beneficiaries being their issue and ...
Rawstron & anr (executrices of the estate of Lucian Freud) v Freud [2014] EWHC 2577 (Ch)
October 2014 #143Lucian Freud (the deceased) achieved international recognition as an outstanding painter and draughtsman, and he acquired considerable wealth over the course of his long and successful life. His final will was dated 10 May 2006 (the 2006 will), superseding his previous will of 25 June 2004 (the 2004 will). Both wills were professionally drafted. His residuary estate, after payment of legacies and inheritance tax, was estimated at around £42m.
The claim was brought by the claimants under CPR Part 8 in their capacity as executrices of the deceased’s final will. The first claimant wa...
Hart & anr v Burbidge & ors [2014] EWCA Civ 992 On appeal from: [2013] EWHC 1628 (Ch)
October 2014 #143and
1. ARTHUR KENNETH GERALD SAMWAYS 2. GRAHAM DOUGLAS SAMWAYS 3. CHRISTINE MARGARET GARLINGE 4. PETER KENNETH HART 5. LEWIS ROGER HART 6. GEMMA LOUISE HART
v
1. SUSAN ANNE BURBIDGE 2. BRIAN JEFFERY BURBIDGE 3. KENNETH CHARLES HART 4. PAUL ROGER HART
The appellants appealed a decision in two actions that had been tried together whereby the judge held that the first appellant (A1) was guilty of presumed undue influence over her mother (M) in relation to three transactions which produced a total of £700,000 in the hands of A1 and her husband (A2), who was also ...
FHR European Ventures LLP & ors v Cedar Capital Partners LLC [2014] UKSC 45
September 2014 #142The claimants engaged Cedar Capital Partners LLC (Cedar) to act as their agent in negotiating the purchase by FHR European Ventures LLP of the issued share capital of Monte Carlo Grand Hotel SAM (which owned a long leasehold interest in the Monte Carlo Grand Hotel) from Monte Carlo Grand Hotel Ltd (vendor). As such an agent, Cedar owed a fiduciary duty to the claimants, notwithstanding which it entered into an exclusive brokerage agreement with the vendor to provide for the payment of a €10m fee following completion – the vendor was paid €211.5m when the purchase was completed on 2...
Re Gladys Meek; Jones v Parkin & ors [2014] EWCOP 1
September 2014 #142Mr Jones, the property and affairs deputy for Gladys Meek, asked for the court to authorise a statutory will leaving everything between National Trust for Scotland and a charity connected with the Christadelphian Church. He also asked for an order calling in the £275,000 security bond against her two former deputies, Mrs Miller and Mrs Johnson, and a direction as to whether he should refer the conduct of the two former deputies to the police.
Mrs Meek was born in 1919, widowed in 1961 and predeceased by her only child Barbara in 2010. Both her husband and Barbara died intestate an...
H A Patel and K Patel (a partnership) v HMRC [2014] UKFTT 167 (TC)
September 2014 #142The appellants had established a remuneration trust by a trust deed dated 26 March 2010 and of which they were the protectors. As such, they had the power to appoint and remove trustees, including Bay Trust International Ltd (the trustee). On the day of its establishment, the appellants applied to the trustee for loans of £550,000 which were duly advanced the same day. They were also directors of GSA Investments Ltd, a UK company to which the trustee (via another company in Belize) delegated powers to invest the trust funds.
The respondent issued an information notice dated 14 Se...
IFG International Trust Co Ltd & ors v French Case no: CHP 2012–0048
September 2014 #142Mr French (F) was either a protector or member of the committee of trust protectors of each of nine trusts governed by the law of the Isle of Man. The trusts were set up with one or other of two American brothers and their families as beneficiaries in various combinations. Trusts set up in 1992 contained a clause (clause 8.7) ‘the trustee may grant an indemnity out of the trust fund to any committee member or to such delegatee upon such terms as the trustee may think fit.’ while those set up in 1994/1995 provided in sch 4, para (8) (b) that:
‘Each person occupyi...
JP Gilchrist Trust v HMRC Case number: FTC/89/2012
September 2014 #142Mr Gilchrist settled property on trust on 17 May 1993. Under the terms of the trust, he was entitled to a life interest in the trust property. On 4 June 1993, the trustees exercised an overriding power of appointment to appoint 20% of the fund (the appointed fund) out of the main fund, on discretionary trust for the benefit of members of Mr Gilchrist’s family. Mr Gilchrist and his spouse were excluded from any benefit in the discretionary trust. Mr Gilchrist then gifted £44,000 to the trustees. The trustees used the funds to contribute to Whitecroft Limited, in which the trust held...
Re MRJ, JT and KT v Suffolk County Council & anr Case no: 12256266
September 2014 #142MRJ was born in 1932 and formally diagnosed with dementia in March 2009. In December 2011 her psychiatrist confirmed she had no capacity. Prior to moving into a care home at Christmas 2013 she had lived in sheltered accommodation.
On 3 March 2010 MRJ signed both a health and welfare and financial lasting powers of attorney appointing JT (her daughter) and KT (her grandson and JT’s son) jointly and severally. The attorneys applied to register the LPAs and the health and welfare LPA was registered on 11 June 2010.
There were technical defects with the financial LPA wh...
Muckian & anr v Hoey & ors [2014] NICh 11
September 2014 #142The deceased had died suddenly without making a will, with his wife, the first defendant, being appointed as the administratrix of his estate. Disagreement arose in relation to the administration of the estate, and the plaintiffs, two of the deceased’s daughters, issued proceedings pursuant to Art 35 of the Wills and Administration Proceedings (Northern Ireland) Order 1994, seeking removal of the existing administratrix and the appointment of a neutral professional person as administrator.
Held
Removing the first defendant as administratrix and appointing a neutral ...