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Gibbon and his family.Īs far as Henrys fund was concerned, Mr. Gibbons sister May and her family, and Henrys fund, which was settled on similar though not identical trusts for the benefit of Mr.
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By that settlement, two funds were established, Mays fund, which was settled on trusts for Mr. Gibbons sister, May, his parents made a marriage settlement. On 11 October 1946, on the occasion of the marriage of Mr. There are no children of his second marriage. He is married and has one very young child. David was born on 23 March 1947, so that he is almost 43 years old. She is married and has two children, aged 13 and 11. Jane, the elder, was born on 30 March 1945, so that she is now almost 45 years old. They are his only children, born of his first marriage. He carries on a farming business in partnership with Jane and David. Throughout his adult life he has been a successful farmer.
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Gibbon now applies to have it set aside on the ground that it was entered into in error. Unfortunately, the deed was incapable of having effect as intended and, accordingly, Mr. Gibbon to set aside a deed which he executed on 4 December 1987, by which he purported to surrender his protected life interest in a trust fund in favour of his two adult children, the first two defendants, whom I shall call Jane and David, and to release a power of appointment in favour of his children and remoter issue to the intent that Jane and David should take immediate beneficial interests in the capital and income of the trust fund. SOLICITORS: Reynolds Porter Chamberlain: Gregory Rowcliffe & Milners.īy an originating summons dated 1 August 1989, the plaintiff, Henry Gibbon, sought, inter alia, (1) an order that a deed which he had executed on 4 December 1987 be rescinded, and that the trusts of and effecting a fund, as contained in the settlement executed by his parents on 11 October 1946 should take effect as though the deed of 4 December 1987 had never been executed (2) a further order, pursuant to the Variation of Trusts Act 1958, varying the trusts of the settlement by deleting from clause 5(1) thereof the words on protective trusts and all the remaining words of the said clause after the words for the period of his life. The defendants were Jane Mary Mitchell, the plaintiffs daughter, and David Henry Gibbon, his son, both of whom were entitled in reversion expectant upon the death of the plaintiff to the property comprising the fund as defined in the settlement of 1946, and who were the purported assignees of the plaintiffs protected life interest pursuant to the deed of 4 December 1987, and Lionel Alfred White and Robin Bernard Jacomb Gibbon, both of whom were trustees of the settlement.