Man set up a company; after his death, company was run by trustee for benefit of his estate (which included trusteeβs wife).
Trustee began to run business as if it were his own, and allotted shares so as to give himself and his wife voting control, as well as paying himself a large salary.
Other members of company could have no confidence in manner in which trustee ran company.
Thus winding-up order granted.
Ask questions π Get answers π It's simple ποΈπποΈ
Our AI is educated by the highest scoring students across all subjects and schools. Join hundreds of your peers today.
Get StartedThese product samples contain the same concepts we cover in this case.
Trusts and Equity | Trust Remedies Including Tracing Knowing Receipt Trust Dutiies And Powers And Equitable Damages Notes (60 pages) |