In the matter of the Y Trust

This judgment of the Court sets out the reasons for the decisions taken and notified to the parties on 22 nd May, 2014.

The disputes concerning the Y Trust are raised in three different representations, two presented by B and one by D. Before coming on to the detail of those claims, a short factual summary is necessary.

The trust deed is not in entirely standard form. Schedule S contains a number of definitions. "Beneficiary" is defined as meaning any of the General Beneficiaries. "General Beneficiaries" is defined in the following way:-

"General Beneficiaries subject to clause Q4 and the proviso B contained in paragraph (e) of this definition means and includes -

(a) The specified beneficiary or the specified beneficiaries (as the case may be);