The quasi-trust – The Barristers’ Hub

‘As every student of equity knows well, a trust is a type of property ownership in which one or more people (the trustee(s)) hold property on behalf of one or more other people (the beneficiary/ies), exercise all the powers of an owner of property in relation to third parties, but are bound to do so for the exclusive interests of the beneficiaries. A trust can be express, made by a formal written implement, or implied, either by transfer of property without explanation (a resulting trust) or in circumstances where the common intention of the parties is or is deemed to be for the property to be held on trust (a constructive trust). Both express and implied trusts are genuine trusts: the property is owned by the trustee, subject to the interest of the beneficiaries.’

Full story

The Barristers’ Hub, 1st August 2014


The Rangers Case and EBTs – RPC Privacy Law

Posted August 1st, 2014 in employment, news, remuneration, sham transactions, trusts by sally

‘On 8 July 2014, the Upper Tribunal (Tax and Chancery Chamber) (UT) handed down its eagerly awaited judgement in HMRC v Murray Group Holdings and Others[1], which concerned an Employee Benefit Trust (EBT) structure. Most readers will know this case as the ‘Rangers Case’, as the facts relate to employees of the Scottish football club as it existed before its liquidation and subsequent purchase.’

Full story

RPC Privacy Law, 31st July 2014


Arcadia Group Ltd v Arcadia Group Pension Trust Ltd and another – WLR Daily

Posted August 1st, 2014 in indexation, law reports, pensions, trusts by sally

Arcadia Group Ltd v Arcadia Group Pension Trust Ltd and another [2014] EWHC 2683 (Ch); [2014] WLR (D) 354

‘The definition of “retail prices index” in pension scheme documentation operated to confer powers to select an index other than the retail prices index and those powers were not confined to circumstances in which the retail prices index had been discontinued or replaced. Section 67 of the Pensions Act 1995 did not preclude the selection of the consumer prices index for use in connection with benefits derived from past service.’

WLR Daily, 31st July 2014


Charity Commission for England and Wales v Framjee and Another – WLR Daily

Posted July 31st, 2014 in charities, Charity Commission, law reports, trusts by michael

Charity Commission for England and Wales v Framjee and another [2014] EWHC 2507 (Ch);  [2014] WLR (D) 340

‘Where a charitable trust held donations intended for other charities nominated by members of the public, and there was a shortfall between the funds held by the charitable trust and the donations, it was just and appropriate to treat the unpaid charities as participants in a common misfortune brought about by the management of the donation scheme. Those charities should bear that burden equally as to the distribution of the remaining funds.’

WLR Daily, 22nd July 2014


Law Commission clarifies law on pension trust investment – Law Commission

Posted July 1st, 2014 in Law Commission, news, pensions, reports, trusts by sally

‘Pension fund trustees do not have to “maximise returns” in the short-term at the expense of risks over the longer term, according to a report published today by the Law Commission.’

Full story

Law Commission, 1st July 2014


High Court to decide the fate of the Warburg Institute’s historic library – The Independent

Posted June 25th, 2014 in libraries, news, trusts, universities by sally

‘The fate of one of the “most important libraries in the world” which houses thousands of historic volumes saved from the Nazis, is to be decided in the High Court.’

Full story

The Independent, 24th June 2014


Khaira and others (Respondents) v. Shergill and others (Appellants) – Supreme Court

Posted June 13th, 2014 in law reports, Sikhism, succession, trusts by sally

Khaira and others (Respondents) v. Shergill and others (Appellants) [2014] UKSC 33 (YouTube)

Supreme Court, 11th June 2014


Supreme Court reduces religious no-go area for courts – UK Human Rights Blog

Posted June 12th, 2014 in appeals, charities, jurisdiction, news, Supreme Court, trusts by sally

‘The Supreme Court has just reversed a decision of the Court of Appeal (see my previous post here) that a dispute about the trust deeds of two Sikh religious charities was non-justiciable and so could not and should not be decided by the Courts. By contrast, the SC said that two initial issues concerning the meaning of trust deeds were justiciable, and, because of this, further issues which did raise religious issues had to be determined by the courts.’

Full story

UK Human Rights Blog, 11th June 2014


Inheritance and Trustees’ Powers Act 2014

Posted May 15th, 2014 in legislation, probate, trusts, wills by tracey

Inheritance and Trustees’ Powers Act 2014 published

Full text of Act


Santander UK Plc v RA Legal Solicitors: A shift in balance in favour of lenders? – Hardwicke Chambers

Posted April 8th, 2014 in banking, breach of trust, causation, law firms, news, solicitors, trusts by sally

‘Section 61 of the Trustee Act 1925 gives the court power to relieve from liability a trustee who has committed a breach of trust, if he: (i) acted honestly and reasonably; and (ii) ought fairly to be excused for the breach.’

Full story

Hardwicke Chambers, 13th March 2014


The Savile Estate Saga – Sovereign Chambers

‘Jimmy Savile died on 29 October 2011. The current value of his estate, after allowing for a range of expenses that have been incurred, was about £3.3 million. Jimmy Savile left a will. The executor of the will and Jimmy Savile’s personal representative was National Westminster Bank plc (“the Bank”). Various individuals were named in the will as beneficiaries (“the individual beneficiaries”). These included a small number of close relatives and friends, each of whom was given a relatively modest bequest. However, under the will, the bulk of the residue of Jimmy Savile’s estate was left to the Jimmy Savile Charitable Trust (“the Trust”). That Trust was intended to serve a number of very worthwhile and valid charitable causes, including Help for Heroes.’

Full story

Sovereign Chambers, 19th March 2014


Recent Developments In Tax Planning From A European Perspective: The Impact on Off Shore Jurisdictions – Six Pump Court

Posted March 10th, 2014 in disclosure, EC law, money laundering, news, taxation, trusts by sally

‘As part of a pan European project to cut down on alleged illicit money laundering through financial institutions and legally created entities such as companies, foundations and trusts, the European Union has launched its fourth anti-money laundering Directive.’

Full story

Six Pump Court, 7th March 2014


Pullan v Wilson and others – WLR Daily

Posted March 5th, 2014 in fees, law reports, proportionality, remuneration, trusts by sally

Pullan v Wilson and others [2014] EWHC 126 (Ch); [2014] WLR (D) 107

‘An automatic entitlement of a professional trustee to charge his normal hourly rates at least unless those rates had been specified and sanctioned by other trustees and principal beneficiaries before the relevant work was undertaken would deprive a court of equity of any effective control over that trustee’s remuneration.’

WLR Daily, 28th January 2014


Judge approves Savile compensation scheme – Daily Telegraph

Posted February 27th, 2014 in banking, compensation, executors, news, trusts, victims by sally

‘Victims of serial sex offender Jimmy Savile are a step closer to getting compensation after a judge sanctioned a scheme to award payouts.’

Full story

Daily Telegraph, 26th February 2014


In re West of England Ship Owners Insurance Services Ltd Retirement Benefits Scheme Board of the Pension Protection Fund v Board of the West of England Ship Owners Insurance Services Ltd Retirement Benefits Scheme and another

Posted February 13th, 2014 in law reports, ombudsmen, pensions, third parties, trusts by sally

In re West of England Ship Owners Insurance Services Ltd Retirement Benefits Scheme
Board of the Pension Protection Fund v Board of the West of England Ship Owners Insurance Services Ltd Retirement Benefits Scheme and another [2014] EWHC 20 (Ch); [2014] WLR (D) 58

‘Considerations of fairness and reasonableness could not be imported into the process of construing the provisions of a Levy Determination issued by the Pension Protection Fund (“PPF”) which set out, pursuant to section 175(5) of the Pensions Act 2004, the rules for calculating the annual levy on defined pension benefit schemes eligible to receive compensation from the PPF. If the relevant rule in the Levy Determination did not permit the board of the PPF to interfere in any individual case so as to procure what might be said to be fair or rational in the calculation of the levy, the ombudsman was similarly constrained on a reference.’

WLR Daily, 23rd January 2014


Inheritance Tax Planning and Trusts – New Square Chambers

Posted December 3rd, 2013 in consultations, inheritance tax, news, trusts by sally

‘The Finance Act 2006 introduced significant changes to the Inheritance Tax (IHT) treatment of
trusts with effect from 22 March 2006. The purpose of this paper is to investigate estate planning
opportunities which are still available both (a) during the lifetime of an individual and (b) on death.’

Full story

New Square Chambers, 28th November 2013


Professional Negligence and Purchases of Property in Joint Names – Zenith Chambers

Posted December 3rd, 2013 in cohabitation, conveyancing, negligence, news, trusts by sally

‘The purpose of this article is to consider the increasingly common situation where purchasers buy property in their joint names, subject to an express declaration of trust, and where one party has contributed significantly more towards the purchase price (or may have provided all of the funds for the purchase). The same principles apply whether the purchase is by cohabitees, family members or friends.’

Full story

Zenith Chambers, 27th November 2013


High Court moves to hotel room as frail father sues sons – The Independent

Posted November 26th, 2013 in courts, families, hotels, news, trusts by tracey

‘The barristers removed their wigs and gowns, the judge presided over the hearing in a suit and the usual wood-panelled backdrop was replaced with a conference suite when the High Court moved to a luxury London hotel yesterday. The unusual venue was granted for an extraordinary feud involving members of the Singh family, the owners of part of the Radisson Blu hotel chain.’

Full story

The Independent, 26th November 2013


Role of Equity in Mistaken Transactions – Speech by the Chancellor of the High Court

Posted November 25th, 2013 in causation, contracts, equity, mistake, rectification, restitution, speeches, trusts by tracey

‘Role of Equity in Mistaken Transactions – Speech by the Chancellor of the High Court. ACTAPS lecture 2013, delivered 20th November 2013.’

Full speech

Judiciary of England and Wales, 21st November 2013


Marwaha and others v Singh and others – WLR Daily

Posted November 12th, 2013 in appeals, charities, law reports, trusts by tracey

Marwaha and others v Singh and others: [2013] WLR (D) 429

“Where on the true construction of a trust, the trustees have a duty to exclude ineligible persons from membership and they breach that duty, the court is not prevented from intervening. The court has power to vary a scheme pursuant to the general supervisory power of the court in relation to charities.”

WLR Daily, 6th November 2013