Representation of Barclays Wealth Trustees [2008] JRC 165 (25 September 2008)

The Court was satisfied that a genuine mistake was made, full and frank disclosure was provided, and no other practical remedy existed; therefore, rectification was ordered to reflect the true intention that Wilmott Street Limited should be the beneficiary.

Citation: [2008] JRC 165
Parties: Applicant: Barclays Wealth Trustees Limited; Beneficial Owner: Wilmott Street Limited; Ultimate Beneficial Owner: Mr George Downing; Tenant: Unite Group Plc; Nominee: Walbrook Nominees No. 1 Limited; Nominee: Walbrook Nominees No. 2 Limited
Jurisdiction: Jersey
Judgment Date: 25 September 2008
Procedural Posture: Application for Rectification / Judgment
Outcome: application granted
Legal Topics: Rectification of Trust Documents, Mistake in Declarations of Trust, Ownership of Management Company Shares

Trusts Property Law Rectification of Trust Documents Mistake in Declarations of Trust Ownership of Management Company Shares

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Parties

Barclays Wealth Trustees Limited

Applicant

Wilmott Street Limited

Beneficial Owner

Mr George Downing

Ultimate Beneficial Owner

Unite Group Plc

Tenant

Walbrook Nominees No. 1 Limited

Nominee

Walbrook Nominees No. 2 Limited

Nominee

Procedural Posture

Application for Rectification / Judgment

Legal Issues

1 Whether the declarations of trust should be rectified to reflect the true intention regarding the ownership of shares in the management company

Ratio Decidendi

Court Disposition

application granted

Orders

Declarations of trust rectified as per draft order submitted by counsel for Barclays.