Brower's Executor v. Ramsay's Trustees [1912] ScotLR 962 (12 July 1912)

Brower's Executor v. Ramsay's Trustees [1912] ScotLR 962 (12 July 1912)

Trustees, acting in accordance with the express terms of the trust deed, may keep security writs in America as part of ordinary administration. The legal assignation of the fee to a creditor does not impose on trustees any duty to alter the ordinary administration or to take special steps to protect the assignee's position. The trustees' duty is to the trust and its terms, not to the peculiar interests of an assignee.

Citation
[1912] ScotLR 962
Parties
Pursuer/complainer (reclaimer): A. Vedder Brower (Executor of Mrs Jenny V. Brower, deceased); Defenders/respondents: Harry Cheyne, W.S. and another (Hon. Mrs Ramsay's Trustees)
Jurisdiction
Scotland
Judgment Date
12 July 1912
Procedural Posture
Civil (trust/administration) / Inner House, First Division, Reclaiming Note (appeal) Against Lord Ordinary's Interlocutor
Outcome
Reclaiming note refused; interlocutor of Lord Ordinary adhered to; actions dismissed.
Legal Topics
Trust Administration, Duties of Trustees, Custody of Trust Assets, Foreign Securities, Legal Assignation, Jurisdiction, Creditor Rights
Trusts and Estates Private International Law Trust Administration Duties of Trustees Custody of Trust Assets Foreign Securities Legal Assignation Jurisdiction +1 more

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Parties

A. Vedder Brower (Executor of Mrs Jenny V. Brower, deceased)

Pursuer/complainer (reclaimer)

Harry Cheyne, W.S. and another (Hon. Mrs Ramsay's Trustees)

Defenders/respondents

Procedural Posture

Civil (trust/administration) / Inner House, First Division, Reclaiming Note (appeal) Against Lord Ordinary's Interlocutor

Legal Issues

  1. 1 Whether trustees of a Scottish trust are obliged to keep security writs (documents of title) within Scotland rather than in a foreign country (America) where the securities are held/invested.
  2. 2 Whether the legal assignation of the fee to a creditor (by decree of furthcoming and adjudication) imposes additional duties on trustees to protect the assignee's position beyond ordinary trust administration.

Ratio Decidendi

Trustees, acting in accordance with the express terms of the trust deed, may keep security writs in America as part of ordinary administration. The legal assignation of the fee to a creditor does not impose on trustees any duty to alter the ordinary administration or to take special steps to protect the assignee's position. The trustees' duty is to the trust and its terms, not to the peculiar interests of an assignee.

Court Disposition

Reclaiming note refused; interlocutor of Lord Ordinary adhered to; actions dismissed.

Orders

  • Repelled pursuer's objections to trustees' accounts.
  • Assoilzied (absolved) defenders from all conclusions of the summons.