header-logo header-logo

A question of trust

24 May 2013 / Simon Love
Issue: 7561 / Categories: Features , Regulatory
printer mail-detail
istock_000020568854medium

Solicitors must take care when handling client accounts, warns Simon Love

In Adelle Challinor v Juliet Bellis & Co [2013] EWHC 347 (Ch), the claimants were a collection of high net worth individuals. For many years, they had invested in property schemes devised by a Mr Egan in his capacity as a director of a property advisory and management company Egan Lawson Limited. These schemes usually involved the creation of a property owning SPV which had the word “Albemarle” in its title.

In 2006, Egan Lawson Ltd was purchased by Erinaceous Group Plc and Egan Lawson Ltd changed its name to Erinaceous Commercial Services Ltd (ECS). ECS continued Egan Lawson’s role as a deviser of property transactions for investors and various schemes (Albemarle Shoreham, Albemarle Croydon and others) were devised and implemented by ECS.

Some investors participated in these schemes as equity investors rather than lenders. The schemes were intended to be tax efficient, and often had complex structures.

In Spring 2007, Erinaceous Group Plc alighted upon a transaction involving the purchase of

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
back-to-top-scroll