RBC Trustees (CI) Ltd & Ors v Stubbs & Ors

RBC Trustees (CI) Ltd & Ors v Stubbs & Ors

The evidence established that the trustees and settlor intended only to remove the successive life interests of the spouses, not to revoke and reappoint the life interests of Joanna and Michael. The 2008 and 2014 Deeds went beyond this intention due to a drafting mistake, creating a mismatch between intention and effect. This constitutes a flaw justifying rectification, as the mistake was not merely fiscal but substantive. There is a contestable issue as the change affects the nature and date of the trusts, with non-fiscal consequences. The criteria for rectification are satisfied.

Parties
Claimant: RBC Trustees (CI) Limited; Claimant: Elizabeth Mary Le Poidevin; Claimant: Philip James Jackman Le Vesconte; Claimant: RBC Trust Company (Jersey) Limited; Defendant: Mrs Janatha Stubbs; Defendant: George Merrick Stubbs; Defendant: Rohan George Laing; Defendant: Kian John Daniel Laing
Jurisdiction
England and Wales
Judgment Date
07 February 2017
Procedural Posture
Civil / Judgment on Application for Rectification or Rescission of Trust Deeds
Outcome
Application for rectification granted
Legal Topics
Rectification of Trust Deeds, Mistake in Trust Instruments, Inheritance Tax Consequences, Trustee Powers, Rescission
Trusts and Estates Equity Rectification of Trust Deeds Mistake in Trust Instruments Inheritance Tax Consequences Trustee Powers Rescission

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Parties

RBC Trustees (CI) Limited

Claimant

Elizabeth Mary Le Poidevin

Claimant

Philip James Jackman Le Vesconte

Claimant

RBC Trust Company (Jersey) Limited

Claimant

Mrs Janatha Stubbs

Defendant

George Merrick Stubbs

Defendant

Rohan George Laing

Defendant

Kian John Daniel Laing

Defendant

Procedural Posture

Civil / Judgment on Application for Rectification or Rescission of Trust Deeds

Legal Issues

  1. 1 Whether the 2008 and 2014 Deeds should be rectified to reflect the true intention of the trustees and settlor
  2. 2 Whether the Deeds are flawed due to mistake in drafting beyond intended scope
  3. 3 Whether there is a contestable issue justifying rectification

Ratio Decidendi

The evidence established that the trustees and settlor intended only to remove the successive life interests of the spouses, not to revoke and reappoint the life interests of Joanna and Michael. The 2008 and 2014 Deeds went beyond this intention due to a drafting mistake, creating a mismatch between intention and effect. This constitutes a flaw justifying rectification, as the mistake was not merely fiscal but substantive. There is a contestable issue as the change affects the nature and date of the trusts, with non-fiscal consequences. The criteria for rectification are satisfied.

Court Disposition

Application for rectification granted

Orders

  • The 2008 and 2014 Deeds are to be rectified to remove only the successive life interests of the former spouses, not the life interests of Joanna and Michael.