Walbrook Trustees (Jersey) Ltd & Ors v Fattal & Ors [2010] EWCA Civ 408 (20 April 2010)

Walbrook Trustees (Jersey) Ltd & Ors v Fattal & Ors [2010] EWCA Civ 408 (20 April 2010)

Clause 2 of the BSL Trust requires the trustees to act on the written instructions of each beneficiary for their respective shares, and does not require unanimity. The court has power to order the appointment of new members to BSL to give effect to these directions and resolve deadlock, and such an order does not rewrite the trust but executes its terms.

Citation
[2010] EWCA Civ 408
Parties
Claimants: Walbrook Trustees (Jersey) Limited & Ors; Defendants: Fattal & Ors
Jurisdiction
England and Wales
Judgment Date
20 April 2010
Procedural Posture
Appeal / Court of Appeal Judgment on Appeal From High Court, Chancery Division
Outcome
Appeal dismissed
Legal Topics
Execution of Trusts, Company Membership Rights, Bare Trusts, Directions to Trustees, Majority and Unanimity in Trust Administration
Trusts Company Law Equity Execution of Trusts Company Membership Rights Bare Trusts Directions to Trustees Majority and Unanimity in Trust Administration

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 6 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Walbrook Trustees (Jersey) Limited & Ors

Claimants

Fattal & Ors

Defendants

Procedural Posture

Appeal / Court of Appeal Judgment on Appeal From High Court, Chancery Division

Legal Issues

  1. 1 Whether the court should order the appointment of new members of Baker Street Limited (BSL) to reflect the interests of the four family trusts under the BSL Trust
  2. 2 Whether the BSL Trust requires unanimity among beneficiaries for such an appointment or permits majority action
  3. 3 Whether the transfer of interests and restructuring in 1995 terminated the contractual effect of the Joint Venture Agreement (JVA)

Ratio Decidendi

Clause 2 of the BSL Trust requires the trustees to act on the written instructions of each beneficiary for their respective shares, and does not require unanimity. The court has power to order the appointment of new members to BSL to give effect to these directions and resolve deadlock, and such an order does not rewrite the trust but executes its terms.

Court Disposition

Appeal dismissed

Orders

  • Order of Blackburne J upheld: Walbrook (Jersey) and Witco to procure the admission of two new members of BSL as nominees for the Sofaer and Sharet Trusts, with consequential division of membership rights.