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Settlement – Variation of trusts. The proceedings concerned three related claims. In each case, the claimant was the settlor of a trust. The claimant sought an order, under s 1 of the Variation of Trusts Act 1958, approving an arrangement proposed to be entered into in relation to an existing trust on the grounds that the arrangement was for the benefit of the minor beneficiaries under that trust and for the benefit of future, yet unborn, beneficiaries under that trust. The Chancery Division refused an application for the hearing to be held in private, ruling, among other things, that the alleged risk that a hearing in open court would lead to the company's customers becoming aware of the levels of profit made by the company had not satisfied the requirement of clear and cogent evidence justifying derogation from the open justice principle. Reporting restrictions were imposed to protect the identity of the children. The court further held that it was appropriate to make an order approving the arrangement under the 1958 Act.
Settlement – Variation of trusts. The proceedings concerned three related claims. In each case, the claimant was the settlor of a trust. The claimant sought an order, under s 1 of the Variation of Trusts Act 1958, approving an arrangement proposed to be entered into in relation to an existing trust on the grounds that the arrangement was for the benefit of the minor beneficiaries under that trust and for the benefit of future, yet unborn, beneficiaries under that trust. The Chancery Division refused an application for the hearing to be held in private, ruling, among other things, that the alleged risk that a hearing in open court would lead to the company's customers becoming aware of the levels of profit made by the company had not satisfied the requirement of clear and cogent evidence justifying derogation from the open justice principle. Reporting restrictions were imposed to protect the identity of the children. The court further held that it was appropriate to make an order approving the arrangement under the 1958 Act.
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