SwissIndependent Trustees SA v Sofer & Ors [2023] EWHC 12 (Ch) (12 January 2023)

SwissIndependent Trustees SA v Sofer & Ors [2023] EWHC 12 (Ch) (12 January 2023)

The formal definition of 'Corpus of the Trust Fund' in clause S1(8a) prevails over the inconsistent explanatory parenthesis in clause A3(1a); the parenthetical words are meaningless and should be ignored, ensuring the full tax-free corpus is available to beneficiaries as intended by the amendments following the Australian tax settlement.

Citation
[2023] EWHC 12 (Ch)
Parties
Claimant: Swissindependent Trustees SA; First Defendant: Robert Sofer; Second Defendant: Tamara Wolpert; Third Defendant: Jay Wolpert; Fourth Defendant: Lindsay Perlman; Fifth Defendant: Marissa Serda; Sixth Defendant: Keith Nicholas Dunnell
Jurisdiction
England and Wales
Judgment Date
12 January 2023
Procedural Posture
Part 8 Claim / Trial of Construction Issue
Outcome
Declaration granted in favour of claimant's construction; rectification claim dismissed.
Legal Topics
Construction of Trust Instruments, Interpretation of Deeds, Foreign Law References, Rectification
Trusts Property Probate Construction of Trust Instruments Interpretation of Deeds Foreign Law References Rectification

Case Brief

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Parties

Swissindependent Trustees SA

Claimant

Robert Sofer

First Defendant

Tamara Wolpert

Second Defendant

Jay Wolpert

Third Defendant

Lindsay Perlman

Fourth Defendant

Marissa Serda

Fifth Defendant

Keith Nicholas Dunnell

Sixth Defendant

Procedural Posture

Part 8 Claim / Trial of Construction Issue

Legal Issues

  1. 1 Proper construction of amended trust clauses
  2. 2 Effect of inconsistent definitions of 'Corpus of the Trust Fund'
  3. 3 Impact of Australian tax law reference in English trust instruments

Ratio Decidendi

The formal definition of 'Corpus of the Trust Fund' in clause S1(8a) prevails over the inconsistent explanatory parenthesis in clause A3(1a); the parenthetical words are meaningless and should be ignored, ensuring the full tax-free corpus is available to beneficiaries as intended by the amendments following the Australian tax settlement.

Court Disposition

Declaration granted in favour of claimant's construction; rectification claim dismissed.

Orders

  • Declaration that 'Corpus of the Trust Fund' refers to the full extent as defined in clause S1(8a), notwithstanding inclusion of inconsistent parenthetical words in clause A3(1a).
  • Rectification claim dismissed as no application for directions was made.