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Area of Law: John Machell KC
The Court of Appeal handed down judgment on Wednesday, 19th April 2023, in Hunt v Ubhi [2023] EWCA Civ 417 in which it reiterated that the default rule is that applicants for freezing orders, including office holders, must provide unlimited cross undertakings in damages and that a departure from the default rule must be justified.
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Mrs Justice Cockerill has recently handed down judgment in PJSC National Bank Trust v Mints [2023] EWHC 118 (Comm) in which she considered the effect of the Russian sanctions on various litigation issues. In short, she held that sanctioned claimants can sue for damages and judgment can be entered in their favour without the regulations being contravened; and payment of costs to and by sanctioned persons (i.e. adverse and favourable) and security for costs to be provided by sanctioned persons are licensable activities.
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The Privy Council today handed down a landmark judgment in trusts law in the cases of ITG Ltd v Fort Trustees Ltd and Equity Trust (Jersey) Ltd v Halabi, holding that a trustee’s right of indemnity gives them a proprietary interest in the trust assets which survives cessation of trusteeship, but, by a 4 to 3 majority and allowing the appeals, that, if the trust assets are insufficient to satisfy the claims of all trustees, the liens of the trustees rank pari passu among themselves rather than on a first in time basis.
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John Machell QC acts for the appellants in ITG Limited v Glennalla Properties Limited in an appeal to the Privy Council. The case concerns issues relating to the insolvency of trusts including the priority between the indemnity claims of successive trustees, and between trustees and outside creditors.
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John Machell QC acts for the claimants in Circumference v Martin in which the Claimants claim an entitlement to rescind a share purchase agreement for fraudulent misrepresentation.
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John Machell QC and Dan McCourt Fritz act for one of the respondents to an appeal in St Johns Trust Company (PUT) Ltd v Medlands (PTC) Ltd. The appeal concerned various orders made by the Court exercising its supervisory jurisdiction in relation to trusts. The appeal was heard by the Bermudian Court of Appeal in January 2020.
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Please click here to view the judgment.
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In Re Infund LLP, John Machell QC and Dan McCourt Fritz act for the appellants in respect of a claim brought by Grupo Mexico seeking to avoid the restoration of an LLP to the Register of Companies. The case will be heard by the Supreme Court in October 2021 and concerns the proper construction and effect of section 1096 of the Companies Act 2006.
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John Machell QC and Dakis Hagen QC appeared before the Chief Justice of the Cayman Islands in Re B, a Public Trustee v Cooper application approving the restructuring of a $1bn trust. Emma Hargreaves was junior counsel to the Protection Committee.
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