Tribe v Tribe
Tribe v Tribe
- 1995
- New Law Journal 145(6714) 6 October 1995, 1445 .
CA 26 July 1995. A father who was the main shareholder of a clothing company and tenant of a number of shops which the company occupied, transferred his shares to one of his sons in order to safeguard his interests, following the serving of notices of dilapidations on two of the shops. The landlord of one of the shops then accepted a surrender of the lease, and the tenant purchased the revision of the lease on the other. He then wished to restore his shareholding position, but the son refused to transfer the shares back to him. The father issued a writ, upheld in the court below, that claimed his son had been holding the shares as bare trustee, with agreement to return them upon demand or when the dispute over dilapidations had been resolved. The son denied this agreement. Appeal dismissed, finding that property transfered for illegal purposes can be recovered where those purposes are not carried out.
BARE TRUSTEES
PRESUMPTION OF ADVANCEMENT
SHAREHOLDINGS
TRANSFER OF SHARES
TRIBE V TRIBE
CA 26 July 1995. A father who was the main shareholder of a clothing company and tenant of a number of shops which the company occupied, transferred his shares to one of his sons in order to safeguard his interests, following the serving of notices of dilapidations on two of the shops. The landlord of one of the shops then accepted a surrender of the lease, and the tenant purchased the revision of the lease on the other. He then wished to restore his shareholding position, but the son refused to transfer the shares back to him. The father issued a writ, upheld in the court below, that claimed his son had been holding the shares as bare trustee, with agreement to return them upon demand or when the dispute over dilapidations had been resolved. The son denied this agreement. Appeal dismissed, finding that property transfered for illegal purposes can be recovered where those purposes are not carried out.
BARE TRUSTEES
PRESUMPTION OF ADVANCEMENT
SHAREHOLDINGS
TRANSFER OF SHARES
TRIBE V TRIBE