First National Trustco (UK) Ltd & Anor v Page & Ors [2019] EWHC 1187 (Ch) (20 May 2019)

First National Trustco (UK) Ltd & Anor v Page & Ors [2019] EWHC 1187 (Ch) (20 May 2019)

Clause 14 of the Deed of Trust does not entitle FNTC to indemnity from BBLL or Club Members for BBCB's liability for Spanish Taxes, as the clause only covers liabilities incurred by the Trustee itself. The wording is clear and unambiguous, and there is no basis to construe it as requiring the Club or BBLL to put the...

Source-derived case information.

Citation
[2019] EWHC 1187 (Ch)
Parties
Claimant: First National Trustco (UK) Limited; Claimant: Bahia Blanca Club B Limited; Defendant: Kevin Page; Defendant: Paul Donald Page; Defendant: Bahia Blanca Leisure Limited; Defendant: Bahia Blanca Leisure SL
Jurisdiction
England and Wales
Judgment Date
20 May 2019
Procedural Posture
Chancery Division Business List (ch D) / First Instance Judgment After Trial
Outcome
Claim dismissed
Legal Topics
Indemnity Under Trust Deed, Liability for Taxes in Trust Structures, Constructive Trust, Knowing Receipt, Trustee Remuneration, Interpretation of Trust Documents
Trusts Property Law Contract Law Equity Indemnity Under Trust Deed Liability for Taxes in Trust Structures Constructive Trust Knowing Receipt +2 more

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Parties

First National Trustco (UK) Limited

Claimant

Bahia Blanca Club B Limited

Claimant

Kevin Page

Defendant

Paul Donald Page

Defendant

Bahia Blanca Leisure Limited

Defendant

Bahia Blanca Leisure SL

Defendant

Procedural Posture

Chancery Division Business List (ch D) / First Instance Judgment After Trial

Legal Issues

  1. 1 Whether BBLL and/or Club Members are obliged to indemnify FNTC or BBCB for Spanish Taxes under clause 14 of the Deed of Trust
  2. 2 Whether FNTC/BBCB have a right of indemnity out of trust property under Trustee Act 2000 or common law
  3. 3 Whether FNTC/BBCB can seek reimbursement from beneficiaries under Hardoon v Belilios principle

Ratio Decidendi

Clause 14 of the Deed of Trust does not entitle FNTC to indemnity from BBLL or Club Members for BBCB's liability for Spanish Taxes, as the clause only covers liabilities incurred by the Trustee itself. The wording is clear and unambiguous, and there is no basis to construe it as requiring the Club or BBLL to put the Trustee in funds for another entity's liability. The claim for indemnity fails. There is no constructive trust or knowing receipt established against BBL SL. FNTC is not entitled to recover outstanding remuneration and expenses as claimed.

Court Disposition

Claim dismissed

Orders

  • Claim for indemnity in respect of Spanish Taxes dismissed
  • Claim for constructive trust/knowing receipt dismissed