BTF1010 Study Guide - Final Guide: Beneficial Ownership, Life Insurance, All England Law Reports
11 Sep 2018
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Introduction to trusts: bartlett v barclays bank trust co ltd (no 1) [1980] 1 all er 139 (pg 570) Facts: barclay bank trust was a professional trustee company and held controlling interest in a property company in a trust property. The property company formed a wholly-owned subsidiary, which engaged in highly speculative purchase of land. And purchase turned out to be disastrous and the trust property plunged. Decision: the trustee company had breached its duty of care and skill. The trustee had inadequately and imprudently supervised the property company: fitzwood pty ltd v unique global pty ltd (in liq) [2002] fcafc 285 (pg 572) Facts: unique goal was a trustee of a unit trust established to purchase, leased out and then resell a commercial building. Fitzwood was a significant holder of the trust. Fitzwood gave an undertaking not to deal with trust assets without the consent of certain unit holders.
