R A Hill and Ors v Permanent Trustee Company of New South Wales Ltd and Ors
[1930] A.C. 720Between: R A Hill and Ors - Appellants
And: Permanent Trustee Company of New South Wales Ltd and Ors - Respondents
Judges:
Lord Blanesburgh
Lord Tomlin
Lord Russell of Killowen
Subject References:
TRUST
Tenant for Life and Remainderman
Company
Dividend
Sale of Capital Assets
Alteration of Article of Association
Trustee's Failure to oppose Alteration
Alleged Breach of Duty
Case References:
Knowles v. Ballarat Trustees, Executors and Agency Co. disapproved - (1916) 22 C. L. R. 212
Fisher v. Fisher disapproved - (1917) 23 C. L. R. 337
In re Bates approved - [1928] Ch. 682
Bouch v. Sproule distinguished - (1887) 12 App. Cas. 385
Judgment date: 29 July 1930
ORDER
Their Lordships accordingly think that a direction should be given to the trustee company not to pay over the moneys to the tenants for life before October 31, 1930. If in the meantime any action is commenced as above mentioned the trustees can apply in that action for directions as to how they should deal with the said moneys pending the decision thereof.
The costs of all parties of this appeal will be taxed as between solicitor and client and paid rateably out of the two sums in question in these proceedings.