Their is no problem with the situation itself, the problem is the lack of a Trustee to administer the situation. The trust deed was drawn up by a Solicitor and is simple enough. The equities are held by a Bank who require instructions from the Trustee. Both solicitor and his practice no longer exist and the Law Society can find no trace of either. Some years have elapsed so this not too suprising, however, we now have deadlock! The Bank is correct; their is no dispute over what what should now happen; but we collectively need an aparantly defunct Trustee. What is the proceedure in these cases?
2006-07-30
12:14:09
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3 answers
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asked by
gazzalla
1
in
Law & Ethics