O’Keefe v Caner [2017] EWHC 1105 (Ch)
Wills & Trusts Law Reports | Summer 2017 #168This was a trial of the preliminary issue of whether claims made by the joint liquidators of two Jersey-incorporated companies against the respondents were time-barred as a matter of Jersey law.
In the proceedings, the applicants claimed that between 10 April 2007 and 10 June 2008 payments were made of €16m and €18m from ‘Level One’ and ‘Special Opportunity’ respectively, to or for the benefit of the first respondent or companies owned beneficially by him. Those payments were claimed not to have been made in good faith for a legitimate commercial purpose of the companies, and the ...
Barnett v Creggy [2014] EWHC 3080 (Ch)
Wills & Trusts Law Reports | January/February 2016 #156This was a claim for an account and associated enquiries and for equitable compensation brought by Jeffrey and Peter Barnett (the claimants) against their former solicitor Stuart Creggy (Mr Creggy). The claimants were entrepreneurs in the restaurant business. Mr Creggy’s practice consisted of establishing offshore companies for clients and providing services to those clients in respect of depositing, investing and withdrawing funds held in those companies. Mr Creggy ceased to be a solicitor in 1998, but continued to provide those services until 2002.
The claimants were clien...
FHR European Ventures & ors v Mankarious & ors [2013] EWCA Civ 17
Wills & Trusts Law Reports | May 2013 #129The claimants (Investor Group) appealed from the decision of Simon J ([2011] EWHC 2308 (Ch)) that the Investor Group was entitled to a personal, but not a proprietary, remedy against Cedar Capital Partners LLC (Cedar). There was no appeal from Simon J’s decision that Cedar was liable to account in equity to the Investor Group.
Monte Carlo Grand Hotel in Monaco was owned by Monte Carlo Hotel SAM, a Monegasque company. The company’s share capital was owned by Monte Carlo Grand Hotel Ltd, a BVI company. In September 2004, the BVI company was interested in selling the hotel, either by...
Re the Ta-Ming Wang Trust Cause no. FSD 0089 of 2010
Wills & Trusts Law Reports | January/February 2013 #126The first plaintiff (TMW) and members of his family are the beneficiaries under the Ta-Ming Wang Trust (the trust). The trust was intended to take advantage of a well-established tax-saving structure under which a foreign national such as TMW immigrating into Canada could obtain a five-year Canadian tax holiday on foreign source income earned by a non-resident company, owned by a non-resident trustee; ie on income by way of dividends paid by the company to the trust during the five-year tax holiday. It was established by a settlement dated 2 May 1996 made between TMW’s mother as settlor ...