Wythe & Ors v Zavos [2024] EWHC 2784 (Ch) (01 November 2024)

Wythe & Ors v Zavos [2024] EWHC 2784 (Ch) (01 November 2024)

The trustees' restructuring decision was rational, within their powers, made with appropriate professional advice, properly managed conflicts of duties, and full consultation with principal beneficiaries. The court's blessing is granted, and s.57 power is conferred for Fund 24 to enable participation in the restructuring.

Citation
[2024] EWHC 2784 (Ch)
Parties
Claimant: John Michael Wythe; Claimant: Roy Matthew Dantzic; Claimant: John Holmes Stephen; Claimant: James Fairweather Edmondson; Claimant: David Hamilton Fox; Claimant: Euan Michael Ross Geddes (Baron Geddes of Rolvenden); Defendant/respondent: Andrea Zavos
Jurisdiction
England and Wales
Judgment Date
01 November 2024
Procedural Posture
Part 8 Claim / Judgment on Approval of Trustees' Restructuring Decision
Outcome
Court approves trustees' restructuring decision and grants s.57 relief for Fund 24.
Legal Topics
Trustee Powers, Restructuring, Beneficiary Representation, Court Approval of Trustee Decisions, Conflict of Duties, Section 57 Trustee Act 1925
Trusts Property Probate Trustee Powers Restructuring Beneficiary Representation Court Approval of Trustee Decisions Conflict of Duties +1 more

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Parties

John Michael Wythe

Claimant

Roy Matthew Dantzic

Claimant

John Holmes Stephen

Claimant

James Fairweather Edmondson

Claimant

David Hamilton Fox

Claimant

Euan Michael Ross Geddes (Baron Geddes of Rolvenden)

Claimant

Andrea Zavos

Defendant/respondent

Procedural Posture

Part 8 Claim / Judgment on Approval of Trustees' Restructuring Decision

Legal Issues

  1. 1 Whether trustees' restructuring decision is a proper exercise of powers
  2. 2 Whether decision is vitiated by conflict of duties
  3. 3 Whether court should confer additional power under s.57 Trustee Act 1925

Ratio Decidendi

The trustees' restructuring decision was rational, within their powers, made with appropriate professional advice, properly managed conflicts of duties, and full consultation with principal beneficiaries. The court's blessing is granted, and s.57 power is conferred for Fund 24 to enable participation in the restructuring.

Court Disposition

Court approves trustees' restructuring decision and grants s.57 relief for Fund 24.

Orders

  • Trustees' decision to restructure Portman Estate assets into a single company is approved.
  • General power conferred on trustees of Fund 24 under s.57 Trustee Act 1925 to participate in company not wholly owned by trustees.