Womble Bond Dickinson (Trust Corporation) Ltd v No Named Defendant [2022] EWHC 43 (Ch) (13 January 2022)

Womble Bond Dickinson (Trust Corporation) Ltd v No Named Defendant [2022] EWHC 43 (Ch) (13 January 2022)

The class of 'Beneficiaries' under the Stephris Trust includes employees and former employees (and their spouses and dependants) of companies that were part of the Powell Duffryn Group at any time during the trust period, provided the relevant employment occurred while the employer was a group member. The dissolution of the PD Group does not extinguish the class of beneficiaries. Given the impracticality and disproportionate cost of identifying all possible beneficiaries, the trustee is directed to distribute the trust fund equally among those former employees it has identified and located by a specified date, without further proactive investigation, but including any former employee who...

Citation
[2022] EWHC 43 (Ch)
Parties
Claimant: Womble Bond Dickinson (Trust Corporation) Limited (as trustee of the Stephris Trust); Defendant: No Named Defendant
Jurisdiction
England and Wales
Judgment Date
13 January 2022
Procedural Posture
Part 8 Claim (cpr Part 8.2 A, Practice Direction 64 B) / Final Judgment on Construction and Administration of Trust
Outcome
Declarations granted; directions given for distribution of trust assets among identified former employee beneficiaries; trustee's discretion surrendered and exercised by the court.
Legal Topics
Construction of Trust Instruments, Identification of Beneficiaries, Court Directions to Trustees, Benjamin Orders, Public Trustee V Cooper Jurisdiction, Rule Against Perpetuities
Trusts and Estates Equity Charity Law Construction of Trust Instruments Identification of Beneficiaries Court Directions to Trustees Benjamin Orders Public Trustee V Cooper Jurisdiction +1 more

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Parties

Womble Bond Dickinson (Trust Corporation) Limited (as trustee of the Stephris Trust)

Claimant

No Named Defendant

Defendant

Procedural Posture

Part 8 Claim (cpr Part 8.2 A, Practice Direction 64 B) / Final Judgment on Construction and Administration of Trust

Legal Issues

  1. 1 Whether beneficiaries of the Stephris Trust ceased to exist due to the dissolution of the Powell Duffryn Group
  2. 2 Proper construction of the definition of 'Beneficiaries' in the trust instrument
  3. 3 Appropriate directions for administration and distribution of the trust fund given the large class and modest assets

Ratio Decidendi

The class of 'Beneficiaries' under the Stephris Trust includes employees and former employees (and their spouses and dependants) of companies that were part of the Powell Duffryn Group at any time during the trust period, provided the relevant employment occurred while the employer was a group member. The dissolution of the PD Group does not extinguish the class of beneficiaries. Given the impracticality and disproportionate cost of identifying all possible beneficiaries, the trustee is directed to distribute the trust fund equally among those former employees it has identified and located by a specified date, without further proactive investigation, but including any former employee who...

Court Disposition

Declarations granted; directions given for distribution of trust assets among identified former employee beneficiaries; trustee's discretion surrendered and exercised by the court.

Orders

  • Declaration that the class of beneficiaries includes employees and former employees (and their spouses and dependants) of companies that were part of the Powell Duffryn Group during the trust period, provided employment occurred while the employer was a group member.
  • Direction that the trustee distribute the remaining trust assets equally among those former employees it has identified and located by a specified date, and any former employee who comes forward by that date.