Re Lorenz's Settlement
| Jurisdiction | England & Wales |
| Judgment Date | 25 April 1861 |
| Date | 25 April 1861 |
| Court | High Court of Chancery |
English Reports Citation: 62 E.R. 433
HIGH COURT OF CHANCERY
S. C. 4 L. T. 501; 7 Jur. (N. S) 402; 9 W. R. 567.
22 & 23 Vict. c. 35, s. 30. Petition for Advice, &c., of Court.
[401] Be lorenz's settlement. April 25, 1861. [S. C. 4 L. T. 501; 7 Jur. (N. S.) 402; 9 W. K. 567.] 22 & 23 Viet. c. 35, s. 30. Petition for Advice, &c., of Cawrt. The Court will not, upon a petition presented by a trustee or executor under the 38th section of the 22 & 23 Viet. c. 35, for the opinion, advice or direction of the Court, construe an instrument or make any order affecting the rights of parties to property. Such petitions should relate only to the management and investment of trust property. This petition was presented by W. A. Mundell, a trustee, under the 30th sectioa of the Act to Further Amend the Law of Property and to Relieve Trustees (22 & 23 .Viet. c. 35), for the opinion, advice or direction of the Court. The petition contained the following statements. By an indenture, dated in February 1859, and made in contemplation of the marriage of Mr. and Mrs. Lorenz, of which deed there were 'three trustees (after reciting that, under and by virtue of a deed dated in August 1857, and made in a Scotch form, Mrs. Lorenz -(then Miss M'Neil) was entitled to one-fifth of a sum of ,5000 and to a sum of 500 and contingently to another sum of 500 subject to a power in three trustees (who were also the trustees of that deed) to settle the same in such a manner as they should consider most for the benefit of Mrs. Lorenz and so as to exclude all interest, right or control by her husband) Mr. Lorenz covenanted with the trustees that he would concur with them in making such settlement as they should think fit of the monies to which Mrs. Lorenz was so entitled, and so as to exclude all interest, right or control of her husband or his creditors; and the deed contained a proviso that it should be lawful for the trustees or trustee for the time being of the settle-[402]-ment so to be made, at the request and by the direction of the said Mrs. Lorenz, out of the trust monies, stocks, funds and securities in their hands, to lend and advance to Mr. Lorenz any sums not exceeding in the whole 600 at such rate of interest as the trustees might deem reasonable without requiring any other security than the bond of Mr. Lorenz, and that it should be lawful for the trustees to continue such loan to Mr. Lorenz as long as they in their discretion should think proper. By an...
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...In re, Greig v. McGregor, [1982] 1 W.L.R. 202; [1981] 3 All E.R. 786, applied. (10) Lorenz”s Settlement, ReENR(1860), 1 Dr. & Sm. 401; 62 E.R. 433, not followed. (11) Manisty”s Settlement, In re, Manisty v. Manisty, [1974] Ch. 17; [1973] 2 All E.R. 1203, dicta of Templeman J. applied. (12) ......