Fenchurch Trust Ltd and Hawtrey Discretionary Trust [2007] JRC 191 (04 October 2007)

Fenchurch Trust Ltd and Hawtrey Discretionary Trust [2007] JRC 191 (04 October 2007)

The references in the deed of 14th September 2001 to the settlor being a co-trustee were made in error and did not reflect the true intention of the parties, which was for Fenchurch to be appointed as sole trustee. The requirements for rectification were satisfied, and the court exercised its discretion to grant rectification effective from the date of the deed.

Citation
[2007] JRC 191
Parties
Applicant: Fenchurch Trust Limited; Respondent: Lindmar Trust Company Limited; Settlor: NP (Settlor)
Jurisdiction
Jersey
Judgment Date
04 October 2007
Procedural Posture
Application for Rectification of Trust Deed / Judgment
Outcome
application granted
Legal Topics
Rectification of Trust Deed, Mistake in Trust Documentation, Trustee Appointment, Discretionary Trusts
Trust Law Rectification of Trust Deed Mistake in Trust Documentation Trustee Appointment Discretionary Trusts

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Parties

Fenchurch Trust Limited

Applicant

Lindmar Trust Company Limited

Respondent

NP (Settlor)

Settlor

Procedural Posture

Application for Rectification of Trust Deed / Judgment

Legal Issues

  1. 1 Whether the deed of retirement and appointment of trustee should be rectified to remove references to the settlor as co-trustee due to mistake.

Ratio Decidendi

The references in the deed of 14th September 2001 to the settlor being a co-trustee were made in error and did not reflect the true intention of the parties, which was for Fenchurch to be appointed as sole trustee. The requirements for rectification were satisfied, and the court exercised its discretion to grant rectification effective from the date of the deed.

Court Disposition

application granted

Orders

  • The deed of 14th September 2001 is rectified to remove references to the settlor as co-trustee, effective from 14th September 2001.
  • No costs to be repaid out of the trust fund.