Wills & Trusts Law Reports | 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...
Wills & Trusts Law Reports | November 2011 #114
BA Peters plc (the company) carried on a business consisting of activities connected with boats, including their sale or purchase both on its own account and as broker for clients. It operated two bank accounts – client and current. When the company went into administration on 14 August 2007 its current account was substantially overdrawn but there was a balance on its client account amounting to £850,544.44. KPMG LLP, whose employees were the joint administrators, concluded on an analysis of the client account that the payments in originated either from sums received on be...
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 …
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