Re Y Trust [2011] JRC 155A
July/August 2012 #121The court had previously sanctioned an apportionment of a trust fund between A in the sum of £1.9m (part of which would comprise writing off a £300,000 loan due from him), C in the sum of £0.5m and a US Trust for the benefit of D, F and E in the sum of £1.0m. At that time, there was, in the trust fund, cash in the sum of £3.4m and it was expected that after the apportionment there would be a surplus of approximately £300,000. A was disaffected with that decision. Subsequently, it transpired that after C had received her £0.5m and a further loan had been made to A there was insufficient c...