Representation of Caversham Trustees Limited [2010] JRC 054 (11 March 2010)
No proprietary claims exist over the retained sum, no public interest in pursuing fraudulent preference, and all relevant parties do not oppose; therefore, the undertaking is discharged and costs are awarded from the trust fund.
- Citation
- [2010] JRC 054
- Parties
- Applicant: Caversham Trustees Limited; Beneficiary: Mr W; Potential Claimant: HSBC Bank Plc; Interested Party: Viscount
- Jurisdiction
- Jersey
- Judgment Date
- 11 March 2010
- Procedural Posture
- Trust Application / Final Determination
- Outcome
- undertaking discharged
- Legal Topics
- Discharge of Undertaking, Proprietary Claims, Fraudulent Preference, Trustee Costs
Case Brief
Summary, issues, holding and outcome
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Parties
Caversham Trustees Limited
Applicant
Mr W
Beneficiary
HSBC Bank Plc
Potential Claimant
Viscount
Interested Party
Procedural Posture
Trust Application / Final Determination
Legal Issues
- 1 Whether Caversham Trustees Limited should be discharged from its undertaking not to transfer the retained sum without court order
- 2 Whether any proprietary claims exist over the retained sum
- 3 Whether the payment into SCAMP Investments Limited's account constituted a fraudulent preference
Ratio Decidendi
No proprietary claims exist over the retained sum, no public interest in pursuing fraudulent preference, and all relevant parties do not oppose; therefore, the undertaking is discharged and costs are awarded from the trust fund.
Court Disposition
undertaking discharged
Orders
- Caversham discharged from its undertaking given to the Court
- Costs of the trustee to be paid on an indemnity basis from the trust fund
Full Case Text
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