Daniel & anr v Tee & ors [2018] WTLR 799
Wills & Trusts Law Reports | Autumn 2018 #173The defendants were professional solicitor trustees of a trust established by the will of the claimants’ father. The claimants were the beneficiaries of the will trust, who were minors when their father died. The deceased’s will provided that the claimants’ shares would be held on trust for them until they turned 25, so the defendants invested the trust fund with the assistance of professional investment advice given by Taylor Young Investment Management Ltd (Taylor Young).
The claimants subsequently sought compensation from the trustees in the sum of £1,476,076 on the basis that ...
Appleby Corporate Services v Citco Trustees 17 ITELR 413
Wills & Trusts Law Reports | April 2016 #158In March 2000 a settlor transferred about US$10m to a company registered in the British Virgin Islands (BVI). In December 2000 the settlor then settled the entire issued share capital of the company upon a BVI discretionary trust. The beneficiaries of the trust were the settlor’s wife and children and the trustee was the defendant company. The trust deed gave the defendant all the powers and immunities set out in what is now the Second Schedule to the Trustee Act (BVI). On the same day in December the defendant and the company entered into an investment management agreemen...