Continue reading "Trusts: When is a beneficiary not a beneficiary?"
Orb A.R.L & ors v Ruhan & ors [2022] WTLR 1049
Wills & Trusts Law Reports | Autumn 2022 #188The case concerned various agreements (including a sale purchase agreement, a headstay agreement and an alleged oral agreement) transacted between the claimants and the defendant (among others) in connection with a business venture. It was alleged that the oral agreement obliged the defendant to redevelop, restructure, manage and/or dispose of assets within a hotel portfolio in order to maximise the financial benefit realised from such assets, and then to pay a share of the net financial benefit from such activity to the claimants. The true intention behind the oral agreement was a matte...
H.M. Attorney General v Zedra Fiduciary Services (UK) Ltd & ors [2020] WTLR 1287
Wills & Trusts Law Reports | Winter 2020 #181In 1927 a partner (GF) in Barings Brothers & Co (Barings) transferred cash and securities of almost £500,000 (the National Fund) to Barings in anticipation of the execution of a deed of trust by Barings, which was executed on 9 January 1928 (the deed). Other donors, including Lord Dalziel, subsequently made further contributions to the National Fund. By clause 2 of the deed Barings held the National Fund as trustees upon trust to accumulate income and profits until the date fixed by the trustees as being the date when, either alone or together with other funds then available for the ...