Please note that it is a student’s responsibility to ensure that work is
submitted (and a receipt obtained) before the 12 noon deadline on the
due date.
Word Limit – 2,500 Words
(excluding footnotes and bibliography)
In February 2018, Simon Colven created a trust for the benefit of five
beneficiaries, by transferring certain property, including the lease of
Orchard House, to three trustees, Louise, Martin and Kiran. Kiran is the
only “non professional” trustee.
In June 2020, the lease of Orchard House was due for renewal but the
landlord refused to renew the lease in favour of the trust. Knowing Kiran
and Freya, one of the beneficiaries personally however, he was happy to
renew the lease in their favour and the trustees decided that this was the
best course of action to take.
Since the date they were appointed, all three trustees have taken £4,000
per year out of the trust fund as remuneration for their services as
trustees.
In April 2022, the board of directors of East Midlands Couriers Limited
(“EMCL”) decided to appoint Naomi Colven as a director of EMCL.
However, in order to be appointed as a director, Naomi also needed to
become a shareholder in the company and so Simon, Naomi’s uncle and
EMCL shareholder decided to transfer 1,000 of his shares in EMCL to
Naomi.
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