The Court of Appeal has indicated the extent to which it will control the exercise of discretion by fiduciaries. Robert Pearce QC discusses ‘The Chancellor’s decisions that the grant was in the best interests of the charity and his direction to L to vote in favour of it were given simultaneously, giving L no opportunity …
Continue reading "Charities: The limits of discretion"
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Wills & Trusts Law Reports | May 2013 #129The plaintiff/representors (A and B) are the principal beneficiaries of X Trust, a discretionary trust governed by the law of Jersey with the first defendant/respondent (C) being the sole trustee. There are other stipendiary beneficiaries.
It is a large trust and owns shares in a public quoted company that have plummeted in value. No claim in respect of this loss has been made. However, there are other losses totalling nearly £100m and A and B wish to bring a breach of trust claim in respect of these losses.
If A and B are successful in their claim they will not personall...
