Alway Sheet Metal Ltd v Capco Trust Jersey Ltd [2014] EWHC 2394 (Ch) (22 May 2014)

Alway Sheet Metal Ltd v Capco Trust Jersey Ltd [2014] EWHC 2394 (Ch) (22 May 2014)

The claimant failed to provide convincing proof that the actual intentions of the parties in 1998 were as set out in the 2005 deed. The evidence presented did not meet the high standard required for rectification, as the original 1998 deed clearly intended to benefit employees, and there was no sufficient factual basis to support a contrary intention at that time.

Citation
[2014] EWHC 2394 (Ch)
Parties
Claimant: Alway Sheet Metal Limited; Defendant: Capco Trust Jersey Limited
Jurisdiction
England and Wales
Judgment Date
22 May 2014
Procedural Posture
Claim for Rectification of Trust Deed / Trial (uncontested, Judgment)
Outcome
Claim for rectification dismissed
Legal Topics
Rectification of Trust Deed, Employee Benefit Trusts, Tax Deductibility, Intention of Parties, Standard of Proof for Rectification
Equity Trusts Tax Rectification of Trust Deed Employee Benefit Trusts Tax Deductibility Intention of Parties Standard of Proof for Rectification

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Parties

Alway Sheet Metal Limited

Claimant

Capco Trust Jersey Limited

Defendant

Procedural Posture

Claim for Rectification of Trust Deed / Trial (uncontested, Judgment)

Legal Issues

  1. 1 Whether the 1998 trust deed should be rectified to reflect the amendments of the 2005 deed based on the parties' intentions in 1998
  2. 2 Whether sufficient evidence exists to meet the standard of proof required for rectification

Ratio Decidendi

The claimant failed to provide convincing proof that the actual intentions of the parties in 1998 were as set out in the 2005 deed. The evidence presented did not meet the high standard required for rectification, as the original 1998 deed clearly intended to benefit employees, and there was no sufficient factual basis to support a contrary intention at that time.

Court Disposition

Claim for rectification dismissed

Orders

  • Claim for rectification of the 1998 trust deed is dismissed.