Barclays Wealth v. Equity Trust [2014] 1 JLR 517 (02 May 2014)

Barclays Wealth v. Equity Trust [2014] 1 JLR 517 (02 May 2014)

Successor manager and trustee can probably enforce contractual obligations created by the trust instrument against the original manager and trustee if such obligations are for the benefit of unitholders.

Citation
[2014] 1 JLR 517
Parties
Applicant: Barclays Wealth; Respondent: Equity Trust
Jurisdiction
Jersey
Judgment Date
02 May 2014
Procedural Posture
Civil / Judgment
Outcome
guidance provided
Legal Topics
Unit Trusts, Contractual Obligations, Successor Rights
Trust Law Contract Law Unit Trusts Contractual Obligations Successor Rights

Case Brief

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Parties

Barclays Wealth

Applicant

Equity Trust

Respondent

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether a trust instrument creates enforceable contractual obligations between manager and trustee for the benefit of unitholders
  2. 2 Whether successor manager and trustee can enforce obligations against original manager and trustee

Ratio Decidendi

Successor manager and trustee can probably enforce contractual obligations created by the trust instrument against the original manager and trustee if such obligations are for the benefit of unitholders.

Court Disposition

guidance provided