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Lands in an industrial estate are vested in company where trustee cannot be found
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High Court grants orders vesting the lands in an industrial estate held by a dissolved company to the applicant company, which has carried out its business on the lands since the dissolution of the previous company, on the grounds that: the interest was not transferred through inadvertence, land was held under a trust and did not vest in the State and the trustee of the land cannot be found.
Trusts – Application to appoint trustees – alternatively, vesting lands in a different company - parcel of land in an industrial estate – company which owned the lands is dissolved – company in occupation seeking orders - State had no objection to the orders being sought - through inadvertence, was not expressly transferred by the liquidator to the new company - sufficient written evidence of the creation of a trust – trustee cannot be found - court does have the power to make an order appointing a new trustee or vesting the land – more convenient and would make more sense for the land to be vested in the new company.
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