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A recent Canadian case confirms the UK position on the scope of fiduciary obligations, as Suzana Popovic-Montag and Sarah Halsted report ‘Most significantly, the court in Galambos v Perez conceptually analysed the nature of fiduciary obligations and concluded that it is not the case that all power-dependency relationships are fiduciary in nature.’In Galambos v Perez …
Continue reading "Fiduciary Duties: Acknowledgement is key"
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Geoffrey Shindler ponders the modern means by which we acquire knowledge ‘Is it any wonder that there is more and more litigation surrounding professional negligence? I know that the professional insurers want to reduce this, hence both the amount of information they require and the cost of the premium.’ How much more can we take? …
Continue reading "Musings From Manchester: Overwhelmed by information?"
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Katherine Harper examines Chisholm and Ashcroft, two recent cases concerning rectification ‘Rectification is a discretionary remedy whereby the court will correct a written instrument, which does not accord with the parties’ true intentions at the time of its making.’The two recent cases of Chisholm v Chisholm [2011] and Ashcroft v Barnsdale [2010] concern applications to …
Continue reading "Rectification: Tax planning and deeds"
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The Starglade case casts light on the meaning of dishonesty in the context of accessory liability, as Mark Pawlowski discusses ‘In Twinsectra Ltd v Yardley [2002], the majority of the House of Lords concluded that dishonesty also required a dishonest state of mind. This approach, however, was rejected by the Privy Council in Barlow Clowes …
Continue reading "Breach Of Trust: Dishonest or unconscionable?"
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Jonathan Hilliard provides a welcome review of information rights under trusts from Schmidt v Rosewood up to present day ‘While many jurisdictions contain statutory codes relating to disclosure, few of them are likely to be entirely exhaustive and therefore it will be necessary, at least at the fringes, to decide on the appropriate approach outside …
Continue reading "Disclosure: Knowledge is power"
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Helen Ratcliffe looks at Drake v Harvey, which highlights the difficulties of estate planning for partnership shares ‘Following Cruikshank v Sutherland [1922], where a partnership deed is silent as to the basis of valuation for the purposes of an account, the appropriate value is one that is fair.’Partnerships are one of the frequently chosen vehicles …
Continue reading "Estate Planning: Accruing complexity"
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Penelope Reed QC introduces an issue devoted to articles by the barristers of 5 Stone Buildings The members of 5 Stone Buildings are delighted to be back writing for this edition of the Trusts and Estates Law & Tax Journal. Last year proved to be a fertile source of articles with members of chambers involved …
Continue reading "5 Stone Buildings: A quick catch up"
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Penelope Reed QC and William East look at the removal of trustees ‘The exercise of the court’s jurisdiction to remove trustees is not dependent on some finding of misconduct or breach of trust; other conduct can also suffice provided that the continuance of the trustee would prevent the trusts being properly executed.’When faced with trustees …
Continue reading "Trustees: Making the break"
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Ruth Hughes reviews case law to present the up-to-date position on presumed undue influence ‘In addition to a relationship of influence, in order for the presumption of undue influence to apply to a transaction, the transaction must be such that it “calls for an explanation”.’Equity protects so that injustice may not be perpetrated. In the …
Continue reading "Presumed Undue Influence: When advice is neither necessary nor sufficient"
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Re G (TJ) has valuable lessons on the role of substituted judgment in statutory wills and gifts, as David Rees outlines ‘The judgment in Re G (TJ) is clearly important as it recognises that the old “substituted judgment” approach still has a role to play when determining P’s best interests under the MCA 2005.’The Court …
Continue reading "Court Of Protection: Giving it away"
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