Representation of B and C [2022] JRC 214 (11 August 2022)

Representation of B and C [2022] JRC 214 (11 August 2022)

The Deed of Gift was set aside because the Representors executed it under a fundamental mistake as to its effect, unintentionally giving E a current beneficial interest in their investment portfolio, which was contrary to their intention and unjust for E to retain; the mistake was sufficiently serious to justify equitable relief.

Citation
[2022] JRC 214
Parties
Applicant: Representors; Respondent: E; Respondent: CitiTrust (Jersey) Limited; Other: Secundus Nominees (Jersey) Limited
Jurisdiction
Jersey
Judgment Date
11 August 2022
Procedural Posture
Civil / Judgment After Hearing
Outcome
Deed of Gift and Second Declaration of Trust declared void ab initio and set aside on grounds of mistake.
Legal Topics
Mistake in Voluntary Disposition, Setting Aside Deeds, Rectification, Estate Planning, Bare Trusts
Trusts Equity Succession Mistake in Voluntary Disposition Setting Aside Deeds Rectification Estate Planning Bare Trusts

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Parties

Representors

Applicant

E

Respondent

CitiTrust (Jersey) Limited

Respondent

Secundus Nominees (Jersey) Limited

Other

Procedural Posture

Civil / Judgment After Hearing

Legal Issues

  1. 1 Whether the Deed of Gift and Second Declaration of Trust should be set aside on grounds of mistake
  2. 2 Whether the mistake was fundamental and justified equitable relief

Ratio Decidendi

The Deed of Gift was set aside because the Representors executed it under a fundamental mistake as to its effect, unintentionally giving E a current beneficial interest in their investment portfolio, which was contrary to their intention and unjust for E to retain; the mistake was sufficiently serious to justify equitable relief.

Court Disposition

Deed of Gift and Second Declaration of Trust declared void ab initio and set aside on grounds of mistake.

Orders

  • Deed of Gift set aside as void ab initio and of no effect.
  • Second Declaration of Trust set aside as void ab initio and of no effect.