Re English & American Insurance Co Ltd; Re the Trustee Act 1925 HC13C02801
Wills & Trusts Law Reports | January/February 2014 #136This was an application by the trustees of a trust arrangement forming part of Schemes of Arrangement following the insolvency of English & American Insurance Company Ltd (EAIC). The trustees were unable to make distributions to the vast majority of beneficiaries under the trust owing to the existence of a small subset of beneficiaries who potentially had rights under the fund. Accordingly the trustees made an application under s57 of the Trustee Act 1925 for power to apportion the trust fund or alternatively for power to make interim distributions either under the court’s...
Alexander v Alexander & ors [2011] EWHC 2721 (Ch)
Wills & Trusts Law Reports | March 2012 #117By his will, dated 20 March 2006, William Owen Rawlings (the testator) left Wisteria Cottage, Sneachill, Spetchley, Nr Worcester, to the claimant and first defendant as trustees, to hold on trust for the third defendant (who was his step-granddaughter), for her lifetime and, thereafter, for her children at 21 in equal shares. The testator died on 3 October 2007, from which date the cottage was empty and fell into dereliction. The third defendant, who was living in Germany, had no wish to reside in the cottage. Section 6 of the Trusts of Land and Appointment of Trustees Act 1996 and s8 of...