Wilkins v Sibley
| Jurisdiction | England & Wales |
| Judgment Date | 09 July 1863 |
| Date | 09 July 1863 |
| Court | High Court of Chancery |
English Reports Citation: 66 E.R. 780
HIGH COURT OF CHANCERY
S. C. 8 L. T. 760; 9 Jur. (N. S.) 888; 11 W. R. 897.
[442] wilkins v. sibley. July 8, 9, 1863. [S. C.-8 L. T. 760; 9 Jur. (N. S.) 888; 11 W. E. 897.] The trustee of a sum of stock, being beneficially entitled to one moiety undivided, assigned his interest to a mortgagee, who placed a distringas on the moiety. The trustee afterwards sold out a moiety and absconded. On a bill by the cestui que trust of a moiety, the Court held that he was entitled to the remaining moiety, but gave the mortgagee his costs. By a settlement, dated the 9th and 10th October 1828, executed on the marriage of Mr. and Mrs. Draper, reciting that a sum of £2700 three per cent. Bank annuities had been transferred into the names of Francis Wilkins and Joseph Wilkins, as trustees, it was thereby declared that the said sum of stock, together with certain other property, was transferred to them upon trust, as follows, viz., after the solemnization of the marriage to pay the income to the intended wife during her life for her separate use, and from and after her death to permit the intended husband to receive one moiety of the income during his life; and if there should be no child of the said marriage, on trust, after the death of the said intended wife, and during the life of the said intended husband, to pay the other moiety of the said income to Ann Wilkins, the mother, "if she should be then living; and if not, then that the said Francis Wilkins and Joseph Wilkins should retain the same moiety of the said trust moneys for their own use in equal shares;" and after the decease of the said wife and husband, then upon trust to pay the whole of the income to Ann, Wilkins for her life,, "if she should be then living; and if not," then that the said F. Wilkins and J. Wilkins should retain the whole of the said trust moneys for their own use in equal shares. Mrs. Draper died in July 1845 without ever having had any issue. Joseph Wilkins, the trustee, died in November 1846, leaving four infant children,, and having by will bequeathed all his personal estate to the Plaintiffs, Letitia Coles. Wilkins and John Bailey, whom he also ap-[443]-pointed his executors and trustees,, upon certain trusts for the benefit of his wife and children; and in case of all his. children dying before their shares became vested respectively, bequeathed all his personal estate to the said Francis Wilkins. Ann Wilkins died in 1848; and soon after her death Francis Wilkins sold out a moiety of the stock, and divided the proceeds between himself and the Plaintiff, leaving £1350 three per cent, annuities standing in the name of Francis Wilkins. In January 1855 Francis Wilkins mortgaged certain real estate to the Defendant, Eobert Sibley, to secure £700 and interest, and in April 1851 he assigned to Sibley one moiety of the sum of £1350 stock, by way of further securing the £700, and a further advance of £300. In...
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