James Gleeson (assisted by Andrew Venables and Robert von Rettig) act for GTC (a Swiss-based professional trustee) in GTC’s breach of trust claim against a former trustee. GTC’s claim is for a sum in excess of £138m plus investment losses. The claim relates to the former trustee’s failed acquisition as trustee of a nationwide leisure business which went into administration shortly post-acquisition. The acquisition employed sophisticated funding and corporate structures, and the claim (which the former trustee denies in full) will give rise to complex legal issues, including causation (hypothetical counterfactuals vs but-for-causation) and quantum (calculation of investment losses).
