AB v CD & Ors

AB v CD & Ors

The trustees failed to act impartially and take all relevant matters into account regarding division of trust assets, particularly the M Fund. The court directs trustees to reconsider the division with a view to compromise, and if unable to agree, the court will make a decision after further argument.

Parties
Claimant: Richard Wilson QC; Defendant: CD; Defendant: GD; Defendant: JID; Defendant: 11; Defendant: JD; Defendant: KD; Defendant: LM; Defendant: NM
Jurisdiction
England and Wales
Judgment Date
17 July 2019
Procedural Posture
Trusts and Probate / Judgment
Outcome
Trustees directed to reconsider division of trust assets, including the M Fund, with a view to compromise; failing agreement, court will decide after further hearing.
Legal Topics
Division of Discretionary Trust Funds, Trustee Duties, Deadlock Resolution, Letters of Wishes, Appointment of Trust Assets
Trusts Probate Fiduciary Law Division of Discretionary Trust Funds Trustee Duties Deadlock Resolution Letters of Wishes Appointment of Trust Assets

Case Brief

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Parties

Richard Wilson QC

Claimant

CD

Defendant

GD

Defendant

JID

Defendant

11

Defendant

JD

Defendant

KD

Defendant

LM

Defendant

NM

Defendant

Procedural Posture

Trusts and Probate / Judgment

Legal Issues

  1. 1 Whether the trustees should include the M Fund in the division of discretionary trust assets
  2. 2 Whether the trustees have acted impartially and in accordance with their fiduciary duties
  3. 3 Whether the court should intervene to resolve deadlock among trustees

Ratio Decidendi

The trustees failed to act impartially and take all relevant matters into account regarding division of trust assets, particularly the M Fund. The court directs trustees to reconsider the division with a view to compromise, and if unable to agree, the court will make a decision after further argument.

Court Disposition

Trustees directed to reconsider division of trust assets, including the M Fund, with a view to compromise; failing agreement, court will decide after further hearing.

Orders

  • Trustees to reconvene and reconsider division of discretionary fund and M Fund.
  • If no agreement is reached, further hearing will be held for the court to decide the division.