Re the Hampel Discretionary Trust 1999 [2012] EWHC 2395 (Ch)
October 2013 #133The claimants purchased a property in Cornwall in 1999. Their intentions were to create a discretionary trust of which they were to be the initial trustees, in favour of a class of beneficiaries consisting of their children and grandchildren and any further person or class of person nominated by the trustees. It was also intended that they should both be excluded from any possibility of benefit under the trust for inheritance tax reasons. In particular, they were concerned that there should be no reservation of benefit within the meaning of s102(1)(b) of the Finance Act 1986...
Helmsman Ltd & anr v Bank of New York Trust Co (Cayman) Ltd [2009] CILR 490
January/February 2013 #126The defendant Bank of New York Trust Co (Cayman) Ltd (BNY Cayman) was sole trustee of the Beverley and Howden Settlements from June 1999 until February 2005 and trustee of the London Settlement from March 2000 until November 2002. The first plaintiff, Helmsman Ltd (H(1)), is a Bermudian company and now the sole trustee of the Beverley and Howden Settlements. The second plaintiff, the Hotham Trustee Co Ltd (H(2)), is an English company and the sole trustee of the London Settlement. The Beverley and Howden Settlements (the UK settlements) provide that the proper law of the settlement is th...
Hughes & ors v Bourne & ors [2012] EWHC 2232 (Ch)
October 2012 #123Eric Lionel Thomas (the settlor) settled a trust (the 1961 settlement) by deed dated 27 June 1961 (the 1961 deed). The principal asset of the 1961 settlement was a controlling interest in NWN Media (the company), a family owned newspaper publishing company that published local newspapers in Wales, Chester, Shropshire and Herefordshire. The trustees of the 1961 settlement (the trustees) were given powers by the 1961 deed to sell shares with the consent of the settlor during his lifetime and thereafter at their discretion. In addition, the 1961 deed gave the trustees the powers of appropri...
Quigley v Masterson [2011] EWHC 2529 (Ch)
April 2012 #118The appellant (Mrs Quigley) appealed to Henderson J from an adjudication by HM Land Registry that the joint tenancy of her father (Mr Pilkington) and the respondent (Mrs Masterson) had not been severed prior to Mr Pilkington’s death on 20 March 2009.
Mr Pilkington and Mrs Masterson lived together between 1978 and 2001 but never married. They bought 173 North Street, Coventry (North Street) as joint tenants on 24 August 1992. Their relationship ended in 2001 and Mrs Masterson left North Street. In 2002, Mr Pilkington’s solicitor attempted to sever the joint tenancy. Th...
Sharma & anr v Hunters [2011] EWHC 2546 (COP)
March 2012 #117The applicants (R and J) made a wasted costs application against the respondent solicitors (H) in the context of proceedings known as D v R (Deputy of S) and S [2010] EWHC 2405 (CoP), which had been heard by Henderson J in the Court of Protection concerning S. R was S’s daughter and his deputy. She had brought proceedings in the Chancery Division in S’s name to recover property S had given away to D on the basis of undue influence. S’s wish was that D should retain the property given to her. In that context, D applied for a declaration from the Court of Protection that ...