CC Ltd. v Apex Trust [2012] 1 JLR 314 (30 March 2012)

CC Ltd. v Apex Trust [2012] 1 JLR 314 (30 March 2012)

The transfer was set aside because the settlor acted under a mistaken belief, induced by incorrect advice, that the original owners could access the assets and nominate beneficiaries, when in fact the assets were inaccessible for the duration of the trust.

Citation
[2012] 1 JLR 314
Parties
Applicant: CC Ltd.; Respondent: Apex Trust
Jurisdiction
Jersey
Judgment Date
30 March 2012
Procedural Posture
Civil / Judgment
Outcome
transfer set aside
Legal Topics
Mistake by Settlor, Setting Aside Voluntary Transfer, Trust Assets
Trust Law Mistake by Settlor Setting Aside Voluntary Transfer Trust Assets

Case Brief

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Parties

CC Ltd.

Applicant

Apex Trust

Respondent

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Whether a voluntary transfer into trust can be set aside for mistake by the settlor

Ratio Decidendi

The transfer was set aside because the settlor acted under a mistaken belief, induced by incorrect advice, that the original owners could access the assets and nominate beneficiaries, when in fact the assets were inaccessible for the duration of the trust.

Court Disposition

transfer set aside

Orders

  • Voluntary transfer into trust is set aside due to mistake by settlor.