Trusts, probate and estates: contentious

This was the first case before the HKCFA to consider the important and much debated practical question of the test for whether a Quistclose trust exists.

The decision sets out a clear test and guidance that will be important in future cases, along the way dealt with the recent Privy Council decision in Prickly Bay Waterside Ltd, and explains when such trusts can arise in the absence of express restrictions on the purpose for which the funds can be used by the recipient.

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The Upper Tribunal upheld the First-tier Tribunal’s finding that on a purposive construction of the relevant legislation (paragraph 14A(3) of Schedule 13 to the Finance Act 1996), the statutory language was to be interpreted more broadly than the Appellant contended for, and, therefore, on the facts of the case, the “transfer” in question comprised the aggregate of two amounts including, significantly, a payment made for the assignment of the option (as contended for by the Respondents) rather than just one amount (as contended for by the Appellant).

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Acting for the Deputy for the head of the Hinduja family (one of the wealthiest families in the world) amidst complex disputes between separate branches of the family in various jurisdictions.

The case, one of The Lawyer’s Top 20 Cases of 2023, concerns a multimillion-pound property on The Bishop’s Avenue (sometimes known as “Billionaire’s Row”) in North London.

The judgment, in addition to dealing with questions of Liechtenstein, Swiss and Shari’a Law, addresses a number of principles of English property and trusts law and conflicts of laws.

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Acting for the successful respondent before the Supreme Court in the now leading knowing receipt case of Byers v Saudi National Bank [2023] UKSC 51. The Supreme Court has now definitively stated the proprietary basis of such relief, and rejected the submission that it is a remedial response to unconscionability.

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Successfully acting for the respondent in Bermuda Court of Appeal in a decision on breadth of standard form consent powers of fiduciary protectors of trusts. The Court reached a unanimous decision following full argument that the role of a fiduciary protector having a power of consent in relation to the exercise of trustee powers is “narrow” rather than “wide”.

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A key Privy Council decision of significance throughout the common law world, concerning the interplay between trusts and insolvency law. It has particular importance in circumstances where the trust fund is ‘insolvent’, in the sense that the trust assets are insufficient to meet the amounts due under the trustee’s right of indemnity.

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Concerns the circumstances in which the Court might refuse to bless a decision of pension scheme trustees, with particular reference to the meaning of “necessaries of life”, the conflicted position of member-trustees, and the relevance of disputed matters of fact.

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A high-value trusts dispute arising from the insolvency of the Freedom Bay property development scheme in St Lucia. The case raises important legal questions about trustees’ ability to rely on investors’ contributory negligence as a defence.

In the wake of the multi-million pound restoration of Hawksmoor’s masterpiece, there was a long-running legal dispute over the consecrated churchyard which forms the setting to the Church, a World Heritage Site.

Heard in the Court of Appeal, this case concerns a registered charity, which sought approval of making a grant of $360m to a new charity established by one of its trustees. It marks the first time that the question of duties owed by members of a charitable company has been considered by the courts, and has significant implications for members of charitable companies.

Widely regarded as one of the most important in the pensions industry. It relates to the exercise discretionary powers and the proper purposes for which those powers can be exercised by trustees.

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A successful appeal to the Supreme Court on the application of section 127 Insolvency Act 1986 and the Recognition of Trusts Act 1987 to a disposition of legal title to Saudi shares held under a Cayman Islands trust.

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A long-running claim for breach of trust, which principally concerns the relationship between an English Will trust of a Swiss resident and a Liechtenstein Establishment and issues regarding remuneration of the trustees.

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The seminal Supreme Court decision on what had become known as the rule in Re Hastings-Bass and on the ability to set aside voluntary dispositions on the ground of mistake.

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Linked appeals concerning an enduring power of attorney, inter vivos gifts of chattels and the rule in Strong v Bird.

Whether the will of Lucian Freud created a fully secret trust.

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Whether the royalties from the Mary Poppins stage musical were income or capital receipts for trust law purposes, and their correct tax treatment.

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A Hong Kong Court of Final Appeal case on whether unrealised profits of a trader in investments were liable to profits tax.

Representing companies in a judicial review which established the obligations of Revenue Authorities seeking to enforce Tax Information Exchange provisions under the OECD model or double taxation treaties.