Archive for the 'trusts' Category

Pitt and another v Holt and another; Futter and another v Futter and Others – WLR Daily

“Where trustees, acting within their powers, carried out a transaction which was said to be vitiated by breach of trust on the ground that the trustees failed to have regard to a relevant matter, and where the reason that they did not have regard to it was that they had obtained and acted on advice from apparently competent advisers which turned out to be incorrect, then the charge of breach of trust could not be made out and the transaction was not voidable.”
WLR Daily, 10th March 2011
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

The Battle for Trevalga: residents win partial victory in fight to stop public school selling hamlet – Daily Telegraph

“A tiny Cornish community has won a partial victory in its fight against a leading public school.”

Full story

Daily Telegraph, 12th September 2010

Source: www.telegraph.co.uk

Government accepts our recommendations on modernising trust law – Law Commission

“We welcome the Government’s acceptance of our recommendations to change the law governing capital and income in trusts.”

Full press release

Law Commission, 23rd March 2010

Source: www.lawcom.gov.uk

Law reformed on leaving property in trust for future generations – Ministry of Justice

“Leaving property in trust for future generations will be modernised and simplified by the Perpetuities and Accumulations Act 2009.”

Full story

Ministry of Justice, 7th January 2010

Source: www.justice.gov.uk

Lehman Brothers International (Europe) (in administration) v CRC Credit Fund Ltd and others – WLR Daily

Lehman Brothers International (Europe) (in administration) v CRC Credit Fund Ltd and others [2009] EWHC 3228 (Ch); [2009] WLR (D) 371

“The statutory trust created by Chap 7 of the Clients Assets Sourcebook (‘CASS 7’) issued by the Financial Services Authority (‘FSA’) took effect upon the receipt, rather than upon the segregation, of client money. Pending segregation of client money, a firm was obliged to take reasonable steps to ensure that, in relation to client money mixed in its house account with the firm’s own money, clients’ rights in relation to that client money were not put at risk, and the client money was not used for the firm’s own purposes. Client money outside the firm’s segregated accounts did not form part of the client money pool (‘CMP’).”

WLR Daily, 17th December 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Martin v Secretary of State for Work and Pensions – WLR Daily

Martin v Secretary of State for Work and Pensions [2009] EWCA Civ 1289; [2009] WLR (D) 346 

“Although English law might be the law applicable to the question whether a property in France, registered in the name of an income benefit claimant domiciled in England, was held on an implied trust for another, nevertheless, where the whole focus of the admitted common intentions of the claimant and the alleged beneficiary was on the provisions of French succession law as having the closest connection to the property, a social security commissioner was entitled to conclude that French law applied, with the result that there was no implied trust, the claimant was the beneficial owner of the property, and his capital, for income support purposes, exceeded the prescribed amount.”

WLR Daily, 27th November 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

In re Lehman Brothers International (Europe) (in administration) (No 2) – WLR Daily

In re Lehman Brothers International (Europe) (in administration) (No 2) [2009[ EWCA Civ 1161; [2009] WLR (D) 323

“The court had no jurisdiction under Pt 26 of the Companies Act 2006 to sanction a scheme of arrangement which extended to the release of rights over property held by the company under a trust since it did not constitute a compromise or arrangement between the company and its creditors within s 899 of the 2006 Act.”

WLR Daily, 10th November 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.


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