Jessica Powers’ Article for Lexis Nexis’ Corporate Rescue and Insolvency Journal
In the last issue of Lexis Nexis’ Corporate Rescue and Insolvency journal, Jessica Powers discussed the recent decision of the Court of Appeal in National Iranian Oil Company v Crescent Gas Corporation [2025] EWCA Civ 1221, and the implications of the judgment.
The case was concerned with the question of whether writing signed by an agent is sufficient to manifest and prove a declaration of trust for the purposes of s. 53(1)(b) of the Law of Property Act 1925. The Court of Appeal also had to determine whether the transfer of the legal interest in a property to the putative beneficiary where the relevant trust was not manifested and proved was a transaction at an undervalue.
