Rep of PP Investors [2008] JRC 031 (25 February 2008)

The errors in the Second and Third Supplemental Trust Instruments arose from a genuine mistake in using an outdated version of the First Supplemental Trust Instrument as the basis for amendments. There was full and frank disclosure and no other practical remedy. All unit holders consented. Rectification is therefore granted.

Citation: [2008] JRC 031
Parties: Manager/representor: PP Investors Limited; Trustee: Mourant Properties Services Limited; Trustee: Mourant and Co Trustees Limited
Jurisdiction: Jersey
Judgment Date: 25 February 2008
Procedural Posture: Application for Rectification / Judgment on Application
Outcome: Application granted
Legal Topics: Rectification of Trust Instrument, Mistake in Trust Deed, Supplemental Trust Instruments

Trusts Equity Rectification of Trust Instrument Mistake in Trust Deed Supplemental Trust Instruments

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Parties

PP Investors Limited

Manager/representor

Mourant Properties Services Limited

Trustee

Mourant and Co Trustees Limited

Trustee

Procedural Posture

Application for Rectification / Judgment on Application

Legal Issues

1 Whether the Second and Third Supplemental Trust Instruments should be rectified to reflect the true intention of the parties

Ratio Decidendi

Court Disposition

Application granted

Orders

Rectification of the Second and Third Supplemental Trust Instruments as set out in paragraph 12 of the Representation