Hughes & Ors v Bourne & Ors

The Bourne and Moss families, as absolutely entitled beneficiaries of their respective sub-funds, are entitled under Saunders v Vautier to direct the trustees to transfer the shares to themselves, and such transfers are permitted under the company's articles; therefore, the trustees cannot proceed with the proposed sale to Tindle against their wishes.

Parties: Claimants: Gareth Hughes and others; Defendants: Susan Bourne and others; Defendants: Nonna Patricia Woodward, Alexander Woodward, Sophie Woodward
Jurisdiction: England and Wales
Judgment Date: 27 July 2012
Procedural Posture: Part 8 Claim / Judgment on Application for Directions
Outcome: Application refused
Legal Topics: Trustee Powers, Beneficiary Rights, Saunders V Vautier Rule, Share Transfer Restrictions, Family Trust Definition

Trusts Company Law Trustee Powers Beneficiary Rights Saunders V Vautier Rule Share Transfer Restrictions Family Trust Definition

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Full judgment text Downloadable case file Legal principles 3 Authorities cited 9 Party arguments 2 Amounts and remedies 7

Parties

Gareth Hughes and others

Claimants

Susan Bourne and others

Defendants

Nonna Patricia Woodward, Alexander Woodward, Sophie Woodward

Defendants

Procedural Posture

Part 8 Claim / Judgment on Application for Directions

Legal Issues

1 Whether beneficiaries of Bourne and Moss funds can require transfer of shares under Saunders v Vautier
2 Whether such transfers comply with company articles on permitted transfers

Ratio Decidendi

Court Disposition

Application refused

Orders

Court declines to approve trustees' proposal to sell shares to Tindle Newspapers Limited.