Caldicott and Others v Richards and Another [2020] EWHC 767 (Ch): Self-dealing by trustees

This recent decision in respect of the application of the self-dealing rule to a sale of shares to one of the trustees (and objects) of a discretionary trust is interesting in demonstrating the court’s relatively rigorous approach to the application of the rule, where informed consent of all the beneficiaries is not established. Practitioners may also be interested in the decision as to the scope of the fairly standard exemption clause in this context.