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...

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