A message to Lisa Mayhew, Co chair of Bryan Cave Leighton Paisner, Ron Downhill, Consultant to the same and Clare Edwards/Andrew Lugg, trust officers to the Hender Family Settlement

Loan interest on my and my brother’s loans

This message was sent with High importance


David Hender

Sun 01/05/2022 19:17


  • Clare Edwards (Paicolex);
  • Ron Downhill;
  • Andrew Lugg (Paicolex Chairman)

+1 other (Lisa Mayhew)

Trust letter interest at 2.5%.pdf

trust letter interest at 2.99%.pdf

Loan Agreement executed by Adriatic dated 28 October 2015 (44820130 Legal).PDF

Show all 3 attachments (6 MB)Download all

Dear Trustees,

The Trustees Act 2000 does not apply as the trust deed was executed, under section 32 of the Trustee Act 1925, before the 2000 act, although the loans to myself and my brother were effected after 2000, in which case the provisions of the 2000 act DO APPLY.

“The trustees are allowed to provide interest free loans to beneficiaries but that the loan to one beneficiary must not affect the other beneficiary”.

It is clear that the loan to my brother, to purchase the investment for HFP Investments Limited, was provided on an interest free basis. That is proven by the fact that my brother did not charge any interest to the company for the loan. Any other permutation would have been financial suicide.

With regard to my loan agreement, which contains no repayment terms, interest had to be charged in order to prevent the loan arrangement being classified by HMRC as a benefit in kind. It was stated at 2% over base.

However, Andrew Lugg stated that the “loan would accrue interest at 2.5%”. He gave no calculation of this rate of interest, whereas I tracked the bank rate and added 2%, although the 2% added interest was punitive and already in excess of any mortgage rate. I consider this to be shoddy. This rate of 2.5% was included in his letter of 23rd January 2018 and, for the moment, I am disregarding the efficacy of the loan principal itself, which I have already proved to be completely false and uplifted by the trust officers, Andrew Lugg and Clare Edwards, at my father’s behest, being amounts allegedly owed to him, which should never have been included as part of the loan agreement anyway.

But in Clare Edwards’ and Andrew Lugg’s letter of 15th March 2022, the interest rate had increased to 2.99%. This is contrary to Andrew Lugg’s letter of 23rd January 2018. The bank base rate did not even increase until 17th March 2022 and there was no justification of any increase in interest, or indeed any capital repayment of which there are no provisions in the 2015 loan agreement

It is as though Edwards and Lugg just put a wet finger in the air and chose an interest rate that bears absolutely no resemblance to anything.

Returning to my brother’s loan of £1.4M (approx), by virtue of the fact that no interest was charged, it was not only contrary to the Trustees Act 2000 but it denigrated the value of the trust. Furthermore, by writing off the entire loan and filing a legal document to the effect that the charge attached to the loan had been satisfied, was not only an egregious breach of the trust officers’ legal and fiduciary duties to the trust but, by not charging one beneficiary interest, but by charging the other interest, they have breached the Trustees Act 2000.

The write off of the loan and the provision of the loan on an interest free basis are also contrary to the rules with regard to benefits in kind of beneficiaries.

Given that all loan agreements were/are governed by the laws of England and Wales, they have also breached the law and have committed a crime by:

  • Charging one beneficiary interest and not the other, therefore reducing the value of the trust
  • Varying the interest rate, contrary to the loan agreement
  • Filing an unlawful and untruthful document with the Registrar of Companies
  • Writing off the loan to Martin Hender and therefore reducing the value of the trust

These criminal activities, undertaken by Clare Edwards and Andrew Lugg, trust officers to the Hender Family Settlement are in addition to the egregious acts of paying one beneficiary more than the other, which was detailed in the document “Inequalities in the trust”, encompassed in my email to Clare Edwards, Andrew Lugg and Ron Downhill on the 14th April 2022 at 8.38 UK time.

Clare Edwards, Andrew Lugg and Ron Downhill, the legal advisor to the trustees/trust officers, have therefore criminally breached the laws of England and Wales.

Not only should all of those mentioned in this email be immediately removed from office but substantial compensation is to be paid to David Hender, who has been caused physical, mental and financial harm.

In addition, the co chair of Berwin Leighton Paisner/ The Bryan Cave Leighton Paisner merged partnership should also immediately resign, as she has been aware of the egregious actions towards me for many years and being the senior partner of the Berwin Leighton Paisner partnership, which is the sole shareholder of Paicolex Trust Management AG, should take the ultimate responsibility for the actions of her ultimate employees and consultants.

Therefore, this document, as well as the others will be submitted to the following:

  • The police
  • HMRC
  • Fraud office

Kind regards

Published by David Hender (copyright owner- all rights reserved)

If you want to know me, you first need to understand where I have been and where I am going

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