Details

Autor(en) / Beteiligte

• Agnew, Sinéad

Titel

THE RESERVATION OF POWERS BY SETTLORS: INTENTION AND ILLUSION

Ist Teil von

• Cambridge law journal, 2021-03, Vol.80 (1), p.18-21

Ort / Verlag

Cambridge, UK: Cambridge University Press

Erscheinungsjahr

2021

Quelle

Alma/SFX Local Collection

Beschreibungen/Notizen

• IN 'Webb v Webb' [2020] UKPC 22, the Privy Council held inter alia that the reservation of powers by the settlor of two discretionary trusts was so extensive that the trusts were invalid. In matrimonial proceedings in the Cook Islands, Mrs. Webb had contended that the Arorangi Trust and the Webb Family Trust, both of which were effectively settled by Mr. Webb, were invalid, with the result that the trust assets were available for division as matrimonial property. Her two key arguments were that Mr. Webb had never intended to alienate the beneficial interest in the trust assets, alternatively the trusts were shams. In closing submissions at first instance these arguments were merged into one, which Potter J. treated as "essentially a sham allegation" and rejected ([2017] CKHC 31, at [51]-[52]). The Cook Islands Court of Appeal agreed that the trusts were not shams but allowed Mrs. Webb's appeal on the basis that Mr. Webb never intended to dispose of the beneficial interest and the trust instruments failed to alienate it effectively ([2017] CKCA 4, at [65]). Mr. Webb appealed to the Privy Council.