UK Gov't Could Tap £512M Depression-Era Debt Relief Fund

Law360, London (November 9, 2020, 8:09 PM GMT) -- A London judge signaled Monday that he may allow the government to tap a £512 million ($675 million) charitable fund that has sat dormant since 1928 after finding the trust set up by an anonymous donor to pay off Britain's national debt may be spent on other good causes.

Even if the government can't hope to pay off the U.K.'s £2 trillion debt load now, reducing the burden would come close to honoring the wishes of the banker who established the trust nearly 93 years ago, High Court Judge Antony Zacaroli said.

A donor established the trust, known as the National...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!