Notice of removal of Paicolex Trust Management as corporate trustee to the Hender Family Settlement

What is below is self explanatory I think. I have had quite enough of Paicolex and its masters at Berwin Leighton Paisner

By email only to

Paicolex Trust Management AG

Kaspar-Fenner-Strasse 6
8700 Kuesnacht-Zurich
Switzerland

27h March 2019

Dear Sir or Madam,

Formal notice of removal of Paicolex Trust Management AG as the trustee of

The Hender Family Settlement

 I, David John Hender, hereby give notice of my intention to remove Paicolex Trust Management AG as the trustee of the Hender Family Settlement.

I have long been aware of inappropriate behaviour being undertaken by the trust officers of the settlement and I have both the legal right and in keeping with my fiduciary duty of care to the settlement, as a beneficiary, to seek the removal of Paicolex Trust Management AG as corporate trustee.

Examples of the inappropriate behaviour of the trust officers are listed below

  1. Taking instructions from the UK Representative of the said settlement, William Thomas Hender (Bill Hender) in favour of the other beneficiary of the settlement, Martin William Hender, namely paying the said Martin Hender, gross dividends amounting to £595,000, in excess of that paid to me, as the other main beneficiary
  2. Taking instructions from the UK representative of the settlement in favour of Verity Hender, Francesca Hender and Iyshea Hender by paying out capital to them or on behalf of them, which is contrary to the trust deed stipulating that there will be no diminution of capital
  3. The provision of an unsecured loan or poorly secured loan to Martin Hender, for the purpose of his purchase of a new home, namely Aquae Sulis, North Road, Bath
  4. When the above contravention of the fiduciary duty of the trustees was notified to the holding company, Berwin Leighton Paisner, on behalf of Lisa Mayhew, Managing Partner of the same, Gaby Kaiser, on her behalf, categorically dismissed my contention that Mr Thomas Meier had been removed due to my notice of breach of fiduciary duty and in fact, dismissed all claims that any action had been taken.
  5. The trust officers ignoring my demands to have Bill Hender removed as the UK representative, due to his age and infirmity and to the incidence of him contracting Alzheimer’s more than four years ago.
  6. The refusal of the officers of Berwin Leighton Paisner, the holding company of the corporate trustees, to instruct the chairman of Paicolex Trust Management AG and/or its trust officers to remove Bill Hender from the self-appointed post of Bill Hender for the reasons stated in (5) above

Due to this and totally inappropriate behaviour of the trust officers of Paicolex Trust Management AG, I now am forced to take steps to remove the corporate trustee of the Hender Family Settlement and to seek a replacement forthwith.

This notice to remove Paicolex trust Management AG, as the corporate trustees to the Hender Family Settlement, can be rescinded by me at any time.

Due to the gravity of this notice of removal, this emailed letter will also be copied to the following:

  • Lisa Mayhew (Managing Partner of Berwin Leighton Paisner)
  • Gaby Kaiser (Head of professional risk of Berwin Leighton Paisner)
  • Ron Downhill (Tax and legal advisor to the Hender Family Settlement)
  • Martin Hender (Joint beneficiary of the Hender Family Settlement)

Kind regards

Yours faithfully,

David John Hender

(Beneficiary of the Hender Family Settlement)

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