The court was asked difficult questions concerning the reasonableness of the remuneration charged to a number of family trusts by a professional trustee.
Held: Excessive claims for fees had been made, and the trustees were ordered to repay part of their fees.
Judges:
Judge Hodge QC
Citations:
[2014] EWHC 126 (Ch), [2014] WLR(D) 107
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Cited – In re Whiteley, Whiteley v Learoyd CA 1886
The trustees were charged with making unauthorized or improper investments, and the claim was that the trusts of the will relating to the sums invested should be carried into execution under the direction of the court and that the trustees might be . .
Cited – Ultraframe (UK) Ltd v Fielding and others ChD 11-Nov-2005
Ultraframe asked the judge to re-open his ‘in the round’ decision on costs.
Held: The decision questioned was not a draft, but a concluded judgment. The judge said that he had not made such a ‘palpable error’ in his order as to give him . .
Cited – Learoyd v Whiteley HL 1-Aug-1887
In managing a trust business the trustee should exercise the same care as an ordinary, prudent business person would exercise in conducting that business as if it were his or her own . .
Cited – Re Pauling’s Settlement Trusts ChD 1962
Family money had been placed into a trust to be managed by a bank. It was said that the bank had wrongly advanced money to the daughter allowing her to fritter away large parts of the capital
Held: The bank had misunderstood the power of . .
Lists of cited by and citing cases may be incomplete.
Trusts
Updated: 11 September 2022; Ref: scu.521165