Anthony Turner and Adam Carvalho give the lowdown on the sale of corporate assets by trustees ‘It is important for trustees to make an early decision about what is on offer as part of the sale and to raise this with the buyer so that any discussions in relation to price (and choice of buyer) …
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Wills & Trusts Law Reports | January/February 2015 #146The claimants were the present trustees of the Savernake Estate, the principal asset of which was a grade I listed house known as Tottenham House together with a dilapidated grade II listed stable block (together Tottenham House). Unoccupied since the 1990s and decaying fast, it was proposed to sell Tottenham House not least because of the need to repay significant borrowing from the bank. There was no dispute as to the trustees’ decision to sell; what was disputed was the process by which that sale should be achieved. The beneficiaries of the trust were the first defendant (Lord C...
