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BCCI (Overseas) Ltd V Akindele
is an English trusts law case, concerning breach of trust and knowing receipt of trust property. Facts The liquidators of BCCI sued Chief Labode Onadimaki Akindele, a Nigerian businessman, for $6,679,226 that he got in divestiture payments in 1988. ICIC Overseas Ltd, in the BCCI group, had agreed Akindele would buy shares in BCCI Holdings, and be guaranteed a 15% pa return for a $10m investment. BCCI, in fact, gave him $16.679m to do this, thus leaving $6.679m over. Akindele did not know this was part of a fraud scheme to enable BCCI Holdings to buy its own shares. The liquidator argued he was a constructive trustee, for both knowing receipt and knowing assistance. The liquidators argued his dishonesty could be inferred from his knowledge of the artificially arranged loan transactions and his unusually high-interest rate of 15%. The High Court refused recovery and refused to find him dishonest.999BCC 669 Judgment Nourse LJ held that Mr Akindele’s knowledge in 1985 was not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal Of England And Wales
The Court of Appeal (formally "His Majesty's Court of Appeal in England", commonly cited as "CA", "EWCA" or "CoA") is the highest court within the Courts of England and Wales#Senior Courts of England and Wales, Senior Courts of England and Wales, and second in the legal system of England and Wales only to the Supreme Court of the United Kingdom. The Court of Appeal was created in 1875, and today comprises 39 Lord Justices of Appeal and Lady Justices of Appeal. The court has two divisions, Criminal and Civil, led by the Lord Chief Justice of England and Wales, Lord Chief Justice and the Master of the Rolls, Master of the Rolls and Records of the Chancery of England respectively. Criminal appeals are heard in the Criminal Division, and civil appeals in the Civil Division. The Criminal Division hears appeals from the Crown Court, while the Civil Division hears appeals from the County Court (England and Wales), County Court, High Court of Justice and Family Court (England and Wales ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Martin Nourse
Sir Martin Charles Nourse (3 April 1932 – 28 November 2017) was a Lord Justice of Appeal of England and Wales, who served as Vice-President of the Civil Division of the Court of Appeal of England and Wales from 2003 until his retirement from the bench in 2006. One of his most notable cases related to multi millionaire Sir Charles Clore. He ruled in favour of the Inland Revenue, that Clore was domiciled in England for tax purposes, despite being resident in Monaco. Clore died on his last visit to England in 1979. Nourse's wife, Lady Lavinia Nourse (née Malim), was acquitted of 17 counts of historic child sex abuse in May 2021 and has subsequently called for law reforms to allow the accused, media anonymity unless or until they are charged. Education and military service Nourse attended Winchester College (1945–1950) and Corpus Christi College, Cambridge. He served as a second lieutenant in the Rifle Brigade from 1951 to 1952, and subsequently in the Territorial Army in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Ward (judge)
Sir Alan Hylton Ward (born 15 February 1938) is a former judge of the Court of Appeal of England and Wales. Early life and education Ward was born and raised in South Africa and practised as an Attorney of the Supreme Court (solicitor), occasionally being instructed by Nelson Mandela and Oliver Tambo. In 1961, he moved to England to take a second degree, reading law at Cambridge. Legal career He was called to the bar (Gray's Inn) in 1964, becoming a bencher in 1988, and was made a Queen's Counsel in 1984. Ward was appointed a High Court judge on 5 October 1988. He was assigned to the Family Division and given the customary knighthood. On 13 February 1995, he was appointed a Lord Justice of Appeal. He reached mandatory retirement on 15 February 2013. Notable rulings Separating conjoined twins In 2000, Ward, together with Lord Justice Brooke and Lord Justice Walker (now Lord Walker of Gestingthorpe) made the decision to separate conjoined twins Gracie and Rosie Attard, refusing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stephen Sedley
Sir Stephen John Sedley (born 9 October 1939) is a British lawyer. He worked as a judge of the Court of Appeal of England and Wales from 1999 to 2011 and was a visiting professor at the University of Oxford from 2011 to 2015. Early life and education Sedley was born to Rachel and William "Bill" Sedley. His father, who came from a Jewish immigrant family, operated a legal advice service in the East End of London in the 1930s.Morning Star 7 July 1985 In the Second World War, Bill (1910–1985) served in North Africa and Italy with the Eighth Army. He founded the firm of lawyers of Seifert and Sedley in the 1940s with Sigmund Seifert, and was a lifelong Communist. Stephen himself joined the Communist Party of Great Britain in 1958, and left in the early 1980s. He was an unsuccessful Communist candidate for the Camden ward on Camden London Borough Council at the 1974 local elections. Sedley was described as a "former member" of the party by ''The Daily Telegraph'' in 2007. Sir Ste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and fun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Credit And Commerce International
The Bank of Credit and Commerce International (BCCI) was an international bank founded in 1972 by Agha Hasan Abedi, a Pakistani financier. The bank was registered in Luxembourg with head offices in Karachi and London. A decade after opening, BCCI had over 400 branches in 78 countries and assets in excess of US$20 billion, making it the seventh largest private bank in the world. BCCI came under the scrutiny of financial regulators and intelligence agencies in the 1980s, due to concerns that it was poorly regulated. Subsequent investigations revealed that it was involved in massive money laundering and other financial crimes, and had illegally gained the controlling interest in a major American bank. BCCI became the focus of a massive regulatory battle in 1991, and, on 5 July of that year, customs and bank regulators in seven countries raided and locked down records of its branch offices during Operation C-Chase. Investigators in the United States and the UK determined that BCCI ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belmont Finance Corp V Williams Furniture Ltd (No 2)
''Belmont Finance Corp Ltd v Williams Furniture Ltd (No 2)'' 9801 All ER 393 is an English trusts law case, concerning breach of trust and dishonest assistance. Facts Belmont Finance Corp was wholly owned by City Industrial Finance, Mr James the chairman of both. Belmont’s directors paid £500,000 under a scheme to help Maximum Co, owned and controlled by Mr Grosscurth, to buy shares in Belmont from City. This was a breach of fiduciary duty and breach of the prohibition on financial assistance. City received £489,000 ultimately. Belmont later claimed City was liable to account as a constructive trustee.See the headnote of the All England Law Report, at 9801 All ER 393 Judgment The Court of Appeal held that City Industrial Finance was liable to account. Buckley LJ noted ''Barnes v Addy'' to mean that a stranger who receives some of the trust or assists with knowledge of facts in a dishonest design will be liable. Goff LJ concurred. Waller LJ concurred. See also *Engli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Case Law
English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national identity, an identity and common culture ** English language in England, a variant of the English language spoken in England * English languages (other) * English studies, the study of English language and literature * ''English'', an Amish term for non-Amish, regardless of ethnicity Individuals * English (surname), a list of notable people with the surname ''English'' * People with the given name ** English McConnell (1882–1928), Irish footballer ** English Fisher (1928–2011), American boxing coach ** English Gardner (b. 1992), American track and field sprinter Places United States * English, Indiana, a town * English, Kentucky, an unincorporated community * English, Brazoria County, Texas, an unincorporated community * Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Appeal (England And Wales) Cases
A court of appeals, also called a court of appeal, appellate court, appeal court, court of second instance or second instance court, is any court of law that is empowered to hear an appeal of a trial court or other lower tribunal. In much of the world, court systems are divided into at least three levels: the trial court, which initially hears cases and reviews evidence and testimony to determine the facts of the case; at least one intermediate appellate court; and a supreme court (or court of last resort) which primarily reviews the decisions of the intermediate courts, often on a discretionary basis. A particular court system's supreme court is its highest appellate court. Appellate courts nationwide can operate under varying rules. Under its standard of review, an appellate court decides the extent of the deference it would give to the lower court's decision, based on whether the appeal were one of fact or of law. In reviewing an issue of fact, an appellate court ordinar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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