Coutts & Co & Anor v Ludlow Trust Company Limited

It is expedient to appoint Ludlow Trust Company Limited as trustee in substitution for Coutts & Co, and it is impracticable to do so without the court's assistance due to the beneficiary's minority and the requirements of the trust instrument. The court grants the substitution and a final anonymity order to protect the minor beneficiary.

Parties: Claimant: Coutts & Co; Claimant: TEFG; Defendant: Ludlow Trust Company Limited
Jurisdiction: England and Wales
Judgment Date: 11 October 2024
Procedural Posture: Part 8 Claim (uncontentious Trust Administration) / Judgment on Application for Substitution of Trustee
Outcome: Application granted
Legal Topics: Substitution of Trustee, Trustee Act 1925 S.41, Trust Administration, Anonymity Orders

Trusts Equity Substitution of Trustee Trustee Act 1925 S.41 Trust Administration Anonymity Orders

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Parties

Coutts & Co

Claimant

TEFG

Claimant

Ludlow Trust Company Limited

Defendant

Procedural Posture

Part 8 Claim (uncontentious Trust Administration) / Judgment on Application for Substitution of Trustee

Legal Issues

1 Whether it is expedient to appoint Ludlow Trust Company Limited as trustee in substitution for Coutts & Co under s.41(1) Trustee Act 1925
2 Whether it is inexpedient, difficult or impracticable to effect the change of trustee without the assistance of the court
3 Whether a final anonymity order should be made to protect the minor beneficiary

Ratio Decidendi

Court Disposition

Application granted

Orders

Ludlow Trust Company Limited appointed as trustee in substitution for Coutts & Co of the TABC Trust
Consequential vesting provisions ordered to transfer trust property to the new trustee