Williams v Williams & ors [2024] WTLR 1137

Autumn 2024 #196

In 1986, a farm known as Cefn Coed was purchased by Mr and Mrs Williams and one of their sons, the appellant. There was no express declaration of trust. Mr and Mrs Williams and the appellant were in a partnership and the partnership paid the mortgage on Cefn Coed. The wills of Mr and Mrs Williams dealt with Cefn Coed as though it was held on a tenancy in common in equal shares and Mr Williams was found to have served a notice of severance of any joint tenancy before his death. Mrs Williams and then Mr Williams passed away. It was determined that Cefn Coed was not a partnership asset but,...

Zedra Fiduciary Services (UK) Ltd v HM Attorney General [2024] WTLR 363

Spring 2024 #194

In 1928 Gaspard Farrer established a fund which he intended, in due course, to pay off the National Debt in its entirety, either by itself or in combination with other funds established for the same purpose. The fund was specified to be held until a specified date of application for investment and accumulation, and thereafter ‘to transfer and pay the same to the National Debt Commissioners to be applied by them in reduction of the National Debt’, with a power at any time to determine that ‘part of the National Fund should be forthwith applied in reduction of the National Debt.’ Subsequen...

Denaxe Ltd v Cooper & anr [2023] WTLR 1279

Winter 2023 #193

The appellant, formerly known as Blackpool Football Club (Properties) Ltd, was the majority shareholder in Blackpool Football Club Ltd (BFCL) (which operated the football club business) and was the owner of other assets including the football stadium at which games were played (the footballing assets). A dispute broke out between the appellant and its owner and controller, Mr Oyston, on the one hand and VB Football Assets (VB), which was a minority shareholder in BFCL, on the other hand. This led to an unfair prejudice petition being issued and VB succeeded in obtaining a buy-out order f...

Hughes v Pritchard & ors [2022] WTLR 993

Autumn 2022 #188

The testator owned substantial real estate, including two plots of farmland and a cottage. He had three children. His son Elfed began working on the farmland from a young age and in 1999 acquired neighbouring farmland which he farmed together with the testator’s land. In due course Elfed brought his own son to work with him on the farm.

The testator had made his testamentary intentions clear for some time, namely that his son Gareth and daughter Carys (the appellant and first respondent respectively) should inherit shares in a family company and Elfed should inherit the farmland k...

Byers & ors v The Saudi National Bank [2022] WTLR 437

Summer 2022 #187

This action related to a transfer in September 2009 of shares in five Saudi Arabian banks, then collectively worth about US$318m, by Mr Maan Al-Sanea (who at that time held those shares) to Samba Financial Group (Samba). The claimants were the liquidators of Saad Investments Company Ltd (SICL). They alleged that Mr Al-Sanea had at the time of the transfer held those shares on trust for SICL. The claimants brought a number of different actions against Samba in respect of the transfer of the shares, formulating the case on various legal bases in the various different actions. The iteration...