Jones & Ors v Firkin-Flood

Jones & Ors v Firkin-Flood

There was no binding Equal Shares Agreement; the Sale Agreement and its fetters were valid and within trustee powers; the trustees collectively abdicated their duties and demonstrated unfitness; the provisional resolution for distribution was vitiated by improper considerations and conflicts; all but one trustee (Mrs Levy) are to be removed and replaced by professional trustees; outstanding issues regarding accountability for self-dealing and CSCL benefits are adjourned.

Parties
Claimant: Thomas Jones; Claimant: Ian Douglas Firkin-Flood; Claimant: Norma Levy; Claimant: John Graham Bramley; Defendant: Daniel Firkin-Flood; Defendant: Louise Firkin-Flood
Jurisdiction
England and Wales
Judgment Date
17 October 2008
Procedural Posture
Trust Dispute / Final Judgment
Outcome
Provisional resolution not approved; three trustees removed; new professional trustee to be appointed with Mrs Levy; outstanding issues adjourned.
Legal Topics
Breach of Trust, Removal of Trustees, Exercise of Trustee Discretion, Self Dealing, Distribution of Trust Assets, Fettering of Trustee Discretion, Accounts and Inquiries, Conflict of Interest
Trusts Estate Administration Company Law Breach of Trust Removal of Trustees Exercise of Trustee Discretion Self Dealing Distribution of Trust Assets +3 more

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Parties

Thomas Jones

Claimant

Ian Douglas Firkin-Flood

Claimant

Norma Levy

Claimant

John Graham Bramley

Claimant

Daniel Firkin-Flood

Defendant

Louise Firkin-Flood

Defendant

Procedural Posture

Trust Dispute / Final Judgment

Legal Issues

  1. 1 Existence and effect of an Equal Shares Agreement
  2. 2 Validity of Sale Agreement and fetters on trustee discretion
  3. 3 Breach of trust and fitness of trustees

Ratio Decidendi

There was no binding Equal Shares Agreement; the Sale Agreement and its fetters were valid and within trustee powers; the trustees collectively abdicated their duties and demonstrated unfitness; the provisional resolution for distribution was vitiated by improper considerations and conflicts; all but one trustee (Mrs Levy) are to be removed and replaced by professional trustees; outstanding issues regarding accountability for self-dealing and CSCL benefits are adjourned.

Court Disposition

Provisional resolution not approved; three trustees removed; new professional trustee to be appointed with Mrs Levy; outstanding issues adjourned.

Orders

  • Mr Jones, Ian Firkin-Flood, and Mr Bramley removed as trustees.
  • Mrs Levy retained as trustee.