BNY Trust Wins £1.6M Suit Over Unpaid Tax Dispute Costs

By Bonnie Eslinger (August 25, 2021, 6:35 PM BST) -- A judge tossed a property investor's £1.6 million ($2.2 million) suit against a railway pension trust handled by BNY Mellon over taxes due on an £80 million land deal, saying on Wednesday there was no "compelling reason why it should go to trial."

Retired High Court Judge Ross Cranston, returning to the bench, granted the summary judgment request made by the Railway Pension Exempt Unit Trust, called RailPen in the judgment. He agreed that a pact the trust made to pay half of any land tax arising out of the property it sold to claimant Almacantar (Marble Arch) SARL had a...

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