Grand View Private Trust Co Ltd & ors v Wong & anr [2023] WTLR 149
Wills & Trusts Law Reports | Spring 2023 #190The Global Resource Trust No.1 (the GRT) was created by a declaration of trust dated 10 May 2001. It was accepted that the true economic settlors were two brothers, YC Wang and YT Wang (the founders), who had built a group of companies from the 1950s into one of the largest business conglomerates in Taiwan (FPG Group). They had died in 2008 and 2014 respectively.
Shortly after the GRT was established, Grid Investors Corp, an investment holding company ultimately owned by the founders which held shares in FPG companies, was transferred to the GRT trustee. The value of those shares ...
Daniel & anr v Tee & ors [2018] WTLR 799
Wills & Trusts Law Reports | Autumn 2018 #173The defendants were professional solicitor trustees of a trust established by the will of the claimants’ father. The claimants were the beneficiaries of the will trust, who were minors when their father died. The deceased’s will provided that the claimants’ shares would be held on trust for them until they turned 25, so the defendants invested the trust fund with the assistance of professional investment advice given by Taylor Young Investment Management Ltd (Taylor Young).
The claimants subsequently sought compensation from the trustees in the sum of £1,476,076 on the basis that ...
Newman v Clarke [2016] EWHC 2959 (Ch)
Wills & Trusts Law Reports | Summer 2017 #168On 20 December 1996 the first defendant settled £150,000 on an accumulation and maintenance trust for the benefit of inter alia the second and third claimant (‘the settlement’). On 11 April 1997 a lease of a certain property was granted to the first defendant. This lease was capable of being enfranchised under the Leasehold Reform Act 1967 (‘the 1967 Act’) such as to enable the first defendant to obtain the freehold interest in the property. On 19 June 1997, the freehold reversion of the lease was sold to the original trustees of the Settlement. On 25 June 1997, t...
Brudenell-Bruce v Moore & ors [2014] EWHC 3679 (Ch)
Wills & Trusts Law Reports | April 2015 #148The claimant, Mr Brudenell-Bruce Earl of Cardigan brought a claim for breach of trust against two trustees of the Savernake Estate Trust (Mr Moore and Mr Cotton) of which he is a beneficiary. He also challenged the trustees’ remuneration and sought their removal as trustees.
The estate consists of numerous properties including a mansion, Tottenham House with an adjacent stable block. The estate is held on trust for sale and within a partnership with 49% of the partnership belonging to Lord Cardigan absolutely and 51% held by the trustees of the Children’s Trust, the beneficiaries ...