Wyatt & Ors v Tyrrell & Ors [2010] EWHC 3633 (Ch) (27 July 2010)

Wyatt & Ors v Tyrrell & Ors [2010] EWHC 3633 (Ch) (27 July 2010)

The Deed of Exclusion was set aside under the Hastings Bass principle because the trustees failed to consider the consequences of the exclusion if the commercial rationale ceased to exist, and would not have executed the deed in its form had they done so.

Citation
[2010] EWHC 3633 (Ch)
Parties
Claimants: Wyatt and Others; Defendants: Tyrrell and Others
Jurisdiction
England and Wales
Judgment Date
27 July 2010
Procedural Posture
Part 8 Claim (chancery Division) / Judgment After Oral Hearing
Outcome
Application granted on the third ground (Hastings Bass principle); Deed of Exclusion set aside.
Legal Topics
Rectification of Trust Deeds, Setting Aside Deeds for Mistake, Hastings Bass Principle, Trustee Duties, Beneficiary Exclusion
Trusts and Equity Rectification of Trust Deeds Setting Aside Deeds for Mistake Hastings Bass Principle Trustee Duties Beneficiary Exclusion

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Parties

Wyatt and Others

Claimants

Tyrrell and Others

Defendants

Procedural Posture

Part 8 Claim (chancery Division) / Judgment After Oral Hearing

Legal Issues

  1. 1 Whether the Deed of Exclusion should be rectified to replace 'irrevocably' with 'revocably'
  2. 2 Whether the Deed of Exclusion should be set aside for mistake
  3. 3 Whether the Deed of Exclusion should be declared void or voidable under the Hastings Bass principle

Ratio Decidendi

The Deed of Exclusion was set aside under the Hastings Bass principle because the trustees failed to consider the consequences of the exclusion if the commercial rationale ceased to exist, and would not have executed the deed in its form had they done so.

Court Disposition

Application granted on the third ground (Hastings Bass principle); Deed of Exclusion set aside.

Orders

  • The Deed of Exclusion dated 18 June 2003 is set aside.