The High Court has ruled that Carlo Silvera, an Italian banker, is not entitled to one-half of the sale proceeds of a golf club.
Silvera and another party, Don Urquhart, allegedly both paid 50% of the purchase price of the club in Elstree, Hertfordshire. In January 1993, Urquhart was fatally shot, in what was believed to be a contract killing, in Marylebone High Street, London.
Following the club’s sale at £3.4m, Silvera brought a claim for, among other things, breach of trust, fraud and conspiracy against Urquhart’s mother and brother, Mildred and Lovat Urquhart, who were his executors.
Dismissing the claim, Ferris J held that, in respect of the golf club assets, the executors had never become trustees of a pre-existing trust in favour of Silvera. He maintained that, in the circumstances, the allegations against the Urquharts had not been made out.
Silvera v Urquhart and others Chancery Division (Ferris J) 16 April 2003.
References: PLS News 17/4/03