London

Solicitor fined by SRA for drawing deceased client’s funds

A former partner of a Leeds law firm agreed a fine with the English Solicitors Regulation Authority (the "SRA") after he used expired Powers of Attorney to withdraw funds from a client's bank account, in order to fund the purchase … Continue reading

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Filed under Fiduciaries, London

Failure to comply with freezing orders leads to prison

In JSC Mezhdunarodniy Promyshlenniy Bank and Another v Pugachev [2016] EWHC 248 & 258 Ch (sentence) and [2016] EWHC 192 (Ch) (liability), the English High Court sentenced Russian businessman Sergei Pugachev to two years in prison for contempt of court. … Continue reading

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Filed under Hong Kong and Singapore, London

London High Court defends a trustee’s right protection from costs

In Felicity Mary Mackley Blades v Richard Auberon Isaac and Christopher Allen Alexander [2016] EWHC 601 (Ch), a decision on costs handed down in March 2016, the English High Court agreed with the argument of the trustee defendants that where the trustees … Continue reading

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Filed under Costs, London, Trust disputes

Herbert Smith Freehills publishes final White Paper – “Trusts – Where are we now?”

Herbert Smith Freehills has published the final of our white papers in the run-up to the Transcontinental Trusts: International Forum 2016, taking place in Bermuda on 9 & 10 May 2016. Herbert Smith Freehills is the Thought Leadership Partner to the … Continue reading

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Filed under London, Offshore, Private wealth and trusts, Uncategorized

UK Budget 2016

Last week the UK Chancellor of the Exchequer handed down his eighth Budget. Whilst the 'sugar tax' will attract many of the headlines, there was much else to digest for corporates and individuals alike. 

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Filed under London, Tax

The insolvent oligarch: the English High Court provides much needed guidance on quantifying liabilities in a deceased insolvent’s estate

In Lockston Group Inc v Nicholas Stewart Wood [2015] EWHC 2962 (Ch), the English High Court held that foreign currency claims and claims for interest in a deceased insolvent's estate should be calculated at the date of death, rather than … Continue reading

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Filed under Estates disputes, Hong Kong and Singapore, London

London High Court re-confirms the application of the law on domicile in claim under the Inheritance (Provision for Family and Dependants) Act 1975

In the recent case of Kebbeh v Farmer [2015] EWHC 3827, the English High Court applied established principles of domicile in relation to claims for financial provision under the Inheritance (Provision for Family and Dependants) Act 1975 ("the 1975 Act") … Continue reading

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Filed under Estates disputes, Jurisdiction, London

London High Court considers defence of illegality in claim for beneficial ownership

In Hniazdzilau v Vajgel [2016] EWHC 15 (Ch), a decision handed down last month, the English High Court held that a claim for beneficial ownership in a company was not defeated by a defence of illegality, as the Claimant, Mr … Continue reading

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Filed under London, Private wealth and trusts, Trust disputes

The High Court of England and Wales denies full recovery of trust litigation costs where co-claimants had separate representation

In Ong & Ors v Ping [2015] EWHC 3258 (Ch), the High Court of England and Wales (Chancery Division) limited the legal costs recoverable by a mother and her children (the "Claimants") on the grounds that from a certain point … Continue reading

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Filed under London, Private wealth and trusts, Trust disputes

London High Court considers burden of proof in claims for breach of fiduciary duty

In Keown v Nahoor and Others [2015] EWHC 3418 (Ch), a decision handed down at the end of last year, the English High Court held that an accountant was liable to account for sums appropriated by him in breach of … Continue reading

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Filed under Fiduciaries, London, Trust disputes