AB v CD & Ors

AB v CD & Ors

Given the deadlock among trustees, the disparity in treatment between beneficiaries, and the need to wind up the trust, the court must exercise the power of appointment. The available liquid funds, including the M Fund, are to be appointed to the eighth and ninth defendants to address the historic imbalance, and costs are to be paid from the trust as set out.

Parties
Claimant: AB; Defendant: CD; Defendant: HD; Defendant: NM; Defendant: Eighth Defendant; Defendant: Ninth Defendant; Defendant: Fourth Defendant; Defendant: Fifth Defendant; Defendant: Sixth Defendant; Defendant: Seventh Defendant
Jurisdiction
England and Wales
Judgment Date
17 July 2019
Procedural Posture
Trusts Directions Application / Judgment After Hearing on Exercise of Power of Appointment and Costs
Outcome
Application granted. Court exercises power of appointment.
Legal Topics
Exercise of Trustee Discretion, Court Intervention in Trusts, Costs in Trust Litigation, Distribution of Trust Assets
Trusts and Estates Exercise of Trustee Discretion Court Intervention in Trusts Costs in Trust Litigation Distribution of Trust Assets

Case Brief

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Parties

AB

Claimant

CD

Defendant

HD

Defendant

NM

Defendant

Eighth Defendant

Defendant

Ninth Defendant

Defendant

Fourth Defendant

Defendant

Fifth Defendant

Defendant

Sixth Defendant

Defendant

Seventh Defendant

Defendant

Procedural Posture

Trusts Directions Application / Judgment After Hearing on Exercise of Power of Appointment and Costs

Legal Issues

  1. 1 Whether the court should intervene in the exercise of the power of appointment under the trust
  2. 2 How the trust assets should be distributed to address disparity between beneficiaries
  3. 3 How costs should be allocated among the parties

Ratio Decidendi

Given the deadlock among trustees, the disparity in treatment between beneficiaries, and the need to wind up the trust, the court must exercise the power of appointment. The available liquid funds, including the M Fund, are to be appointed to the eighth and ninth defendants to address the historic imbalance, and costs are to be paid from the trust as set out.

Court Disposition

Application granted. Court exercises power of appointment.

Orders

  • Available liquid funds, including the M Fund, to be appointed to the eighth and ninth defendants.
  • Costs of all parties to be paid from the trust as set out in the judgment.