‘New laws that aim to stop the UK being a magnet for money launderers – by forcing the owners of properties to reveal their identities – should be applied retrospectively, leading anti-corruption organisations whose work has strongly influenced the government are saying.’
The Guardian, 13th February 2016
Source: www.guardian.co.uk
‘There was no need for an application to the Court of Protection to finalise an award to an incapacitated person that the Criminal Injuries Compensation Authority decided should be held on trust, since a deputy appointed by the Court of Protection could be authorised to negotiate and finalise the terms of such an award.’
WLR Daily, 18th December 2016
Source: www.iclr.co.uk
‘The High Court has taken the unusual step of publishing a short judgment which sets out how pension scheme trustees can use an administrative procedure to correct errors in the scheme rules in a cost effective way.’
OUT-LAW.com, 15th January 2016
Source: www.out-law.com
‘The High Court has taken the unusual step of publishing a short judgment which sets out how pension scheme trustees can use an administrative procedure to correct errors in the scheme rules in a cost effective way.’
OUT-LAW.com, 15th January 2016
Source: www.out-law.com
In re BCA Pension Plan: [2015] EWHC 3492 (Ch); [2015] WLR (D) 502
‘Where the court made an order under section 48 of the Administration of Justice Act 1985 which directly related to the level of benefits that would be payable to members of a pension scheme, members should be told of the order unless there were compelling reasons to the contrary.’
WLR Daily, 2nd December 2015
Source: www.iclr.co.uk
Bagum v Hafiz and another [2015] EWCA Civ 801; [2015] WLR (D) 329
‘Sections 14 and 15 of the Trusts of Land and Appointment of Trustees Act 1996 conferred on the court a substantially wider discretion, exercised on the basis of wider considerations, than the trustees themselves enjoyed acting without either the beneficiaries’ consent or a court order. The court’s powers were there to enable the property to be dealt with justly when the beneficiaries could not agree and direct the trustees how to deal with the property.’
WLR Daily, 22nd July 2015
Source: www.iclr.co.uk
‘There have been a number of recent cases which provide useful guidance in considering the scope of trustees’ duties when faced with decisions as to whether or not to sell or retain land, or to incur expenditure on repairs, or to take legal action.’
Full story
New Square Chambers, 26th May 2015
Source: www.newsquarechambers.co.uk
‘When the court makes or approves a financial order, there is often not enough money in the matrimonial pot to house both parties and any children in owner-occupied accommodation. An outright transfer to one of the parties of what may be the only significant asset may be quite unfair to the other party (as in Clutton v Clutton – [1991] 1 All ER 340 (CA)). An immediate sale of the matrimonial home could be futile, in that both parties may have to move into rented accommodation, with geographical consequences including potential disruption to any children’s education. The parties each, of course need to take tax advice to ensure that liabilities for e.g. CGT (upon transfer / sale) and Inheritance Tax (upon creation of the trust and every ten-year anniversary thereof).’
Tanfield Chambers, 18th June 2015
Source: www.tanfieldchambers.co.uk
BESTrustees plc v Corbett: [2014] EWHC 3038 (Ch); [2015] WLR (D) 242
‘The trustee or manager of a qualifying occupational pension scheme was entitled to assign a debt arising pursuant to section 75 of the Pensions Act 1995.’
WLR DAily, 16th October 2014
Source: www.iclr.co.uk
‘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
‘Eight people who pretended to be lawyers have been sentenced after scamming elderly people out of more than £500,000 in return for bogus asset protection trusts, with carrying out a reserved legal activity when not authorised one of the charges half of them faced.’
Legal Futures, 26th May 2015
Source: www.legalfutures.co.uk
JSC Mezhdunarodniy Promyshlenniy Bank and another v Pugachev [2015] EWCA Civ 139; [2015] WLR (D) 94
‘Under the terms of a freezing order the court had jurisdiction to order a member of a class of beneficiaries under a discretionary trust to make disclosure of the details of the trust and the trust assets.’
WLR Daily, 27th February 2015
Source: www.iclr.co.uk
‘It is now known that 60 people from Stoke Mandeville hospital were abused by Jimmy Savile. But will they and his other victims receive compensation? And where will the money come from?’
Daily Telegraph, 26th February 2015
Source: www.telegraph.co.uk
‘Little has been written on the subject of pension trusts, and the ways in which pension laws and trust laws interact. As academic subjects, many issues such as the purpose of a pension trust, employer duties, and the duties of directors of trustee companies, have long been under-represented. However, pension trust law is a technical area that requires more attention, and is also considered to be an exciting area of law that has been ignored in academia for too long. Author of The Law of Pension Trusts, David Pollard, explains why he decided to fill this gap and what issues he felt needed to be tackled in the law of pension trusts.’
OUP Blog, 6th January 2015
Source: http://blog.oup.com
Davies v O’Kelly [2014] EWCA Civ 1606; [2014] WLR (D) 535
‘In general, equity would not come to the aid of a party who had to rely on his unlawful purpose, but if his right to an equitable interest in property could be identified without the need to rely on his unlawful purpose it might be enforced. In particular, notwithstanding an unlawful purpose between a couple in purchasing property, where the couple later separated it was possible, in the case of a constructive trust just as in the case of a resulting trust, to find, where one of the parties was advancing a claim to his beneficial interest in the relevant property, that he had no need to rely on the unlawful purpose and could therefore advance his claim.’
WLR Daily, 11th December 2014
Source: www.iclr.co.uk
‘A new market for trading the pension debts of insolvent companies will be created as a result of a recent High Court ruling. The ruling will also result in more efficient, earlier winding up of pension schemes when companies go out of business.’
OUT-LAW.com, 4th December 2014
Source: www.out-law.com
Routier and another v Revenue and Customs Commissioners [2014] EWHC 3010 (Ch); [2014] WLR (D) 449
‘For a transfer under a will to be exempt from inheritance tax because it was to be “held on trust for charitable purposes” within the meaning of section 23(6) of the Inheritance Tax Act 1984 the relevant trust had to be subject to the jurisdiction of the United Kingdom courts.’
WLR Daily, 18th October 2014
Source: www.iclr.co.uk
‘A husband who swindled his brother out of a share of a £1.5m inheritance after his parents died has been jailed for four years and four months.’
The Guardian, 24th October 2014
Source: www.guardian.co.uk
‘The 1st October 2014 sees the implementation of long awaited changes to the way in which intestacy and claims for reasonable financial provision are approached. The Inheritance and Trustees’ Powers Act 2014 is the result of a six year Law Commission review of the intestacy rules and claims for reasonable financial provision. The review was prompted by research that suggested 58% of the adult population does not have a will and the intestacy rules did not properly provide for modern relationships.’
Full story (PDF)
Zenith Chambers, 1st October 2014
Source: www.zenithchambers.co.uk
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