Granada Group Ltd v The Law Debenture Pension Trust Corpn plc – WLR Daily

Posted June 3rd, 2015 in company law, interpretation, law reports, pensions, trusts by sally

Granada Group Ltd v The Law Debenture Pension Trust Corpn plc [2015] EWHC 1499 (Ch); [2015] WLR (D) 231

‘Personal rights against a trustee, which were rights that any beneficiary, under any trust, would have to compel the trustee to administer that trust properly, did not fall within the definition of a “non-cash asset” under section 739 of the Companies Act 1985. Section 320(1)(a) of the 1985 Act was not intended by Parliament to apply to the rights or interests of the director himself, whatever they might be, when the non-cash asset was held in trust for him by someone other than the company itself.’

WLR Daily, 22nd May 2015

Source: www.iclr.co.uk