Equity and the Law of Trusts

Law Order Description ASSIGNMENT INSTRUCTIONS Module Title: Equity and the Law of Trusts Module Code: Level: 5 Word Limit: 3,000 words, excludin" rel="nofollow">ing footnotes, bibliography and other items listed in" rel="nofollow">in rule 6.71 of the Academic Regulations Written assignments must not exceed the specified maximum number of words. When a written assignment is marked, the excessive use of words beyond the word limit is reflected in" rel="nofollow">in the academic judgement of the piece of work which results in" rel="nofollow">in a lower mark bein" rel="nofollow">ing awarded for the piece of work Submission Date: This assignment must be submitted via Turnitin" rel="nofollow">in GradeMark (see module guide on VLE for further in" rel="nofollow">information) by no later than 2pm on 12th May 2017 Referencin" rel="nofollow">ing: Work must be properly referenced (see Academic Honesty Policy above) and MUST use the OSCOLA system and in" rel="nofollow">include a bibliography. For further guidance on OSCOLA ASSESSMENT QUESTION In May 2015, Ares Defence Systems PLC, a multin" rel="nofollow">inational defence company, purchased ARK Aerospace Avionics Ltd, a small but highly specialised manufacturer of avionic systems, from Gold Sword Holdin" rel="nofollow">ings Ltd. Throughout the acquisition, Ares Defence Systems was advised and otherwise assisted by LMF Fin" rel="nofollow">inance Ltd, a private firm specialisin" rel="nofollow">ing in" rel="nofollow">in corporate acquisitions in" rel="nofollow">in the defence sector. Ares Defence Systems paid £200m cash to Gold Sword Holdin" rel="nofollow">ings for the purchase of ARK Aerospace Avionics. On 26 December 2015 (Boxin" rel="nofollow">ing Day), the CFO of Ares Defence Systems attended a Boxin" rel="nofollow">ing Day shoot with a director from Gold Sword Holdin" rel="nofollow">ings. Through conversation it emerged that LMF Fin" rel="nofollow">inance had been paid a commission to sell ARK Aerospace Avionics. This amounted to 7.5% of the purchase price. Actin" rel="nofollow">ing on this in" rel="nofollow">information, further in" rel="nofollow">inquiries confirmed the above to be true: a commission of 7.5% had been paid. It appears also that the commission has already been rein" rel="nofollow">invested by LMF Fin" rel="nofollow">inance in" rel="nofollow">into a speculative in" rel="nofollow">investment in" rel="nofollow">in min" rel="nofollow">inin" rel="nofollow">ing in" rel="nofollow">in West Africa. The in" rel="nofollow">investment has proven to have been profitable and has tripled in" rel="nofollow">in value. Ares Defence Systems is now contemplatin" rel="nofollow">ing legal action again" rel="nofollow">inst LMF Fin" rel="nofollow">inance. You are in" rel="nofollow">instructed to advise the company secretary of Ares Defence Systems on what basis, if any, they might make a claim again" rel="nofollow">inst LMF Fin" rel="nofollow">inance.