Tories lose £8m bequest fight
Hélène Mulholland
Monday October 15, 2007 10.30am
Guardian Unlimited
The Conservative party has been denied an £8.2m bequest after the high court today ruled that one of its staunchest supporters was suffering "insane delusions" when he made his will.
The family of Belgrade-born millionaire Branislav Kostic successfully argued that Bane, as he was known to his friends, was mentally ill when he changed his will.
The Conservatives insisted Mr Kostic gave the party the money because he was disappointed with his family and because "of his great and long-standing affection for the Conservative party and his admiration for Mrs Thatcher".
But his son, Zoran, argued that the change in the will - which would have deprived him of an inheritance - was made because "Bane was mentally ill".
The high court ruled the money, which is believed to have risen to nearly £10m after being invested in a trust, should remain with Mr Kostic's family.
A Conservative party spokesman said: "We have never had this money. It was money left to us in a will. There was a dispute over the will and the judgment has now ruled it should go to the family instead, but it is very important to state this money was never received by us."
The son of a delicatessen owner, Mr Kostic made his fortune in Britain and Switzerland. He was imprisoned by the Russians in 1944 but was released to fight the Nazis, suffering severe injuries.
Twenty years later he left for Britain and set up his company, Transtrade, which made millions of pounds by trading in pharmaceuticals and precious metals in the 1960s and 70s. He was a staunch supporter of Margaret Thatcher when she came to power in 1979.
And from the BBC: Tories lose £8.3m bequest battle
A mixture of law, politics, autobiography and humour. Once described as "The Devilish Advocate" (Guardian), I do have the ability to provoke a response. Sometimes it comes from someone who uses a thought process, and sometimes from jerks usually associated with the knee.
Whichever way this is sliced or diced, it is exceedingly grubby behaviour on all sides.
ReplyDeleteI thought it was really funny that the court thought he'd 'left money to the Tory party when he was insanely delusional'. Same description could apply to ordinary working people who wish to vote Tory because they want to cut corporation tax, inheritance tax and reduce maternity benefits and health & safety legislation.
ReplyDeleteWhen I first heard the story I thought the poor old sod must have lost his marbles wishing to bequest so much money to the Tory Party.
ReplyDeleteafricanmum your so right. The Tories will never change.
ReplyDeleteI suspect the latest opinion polls were done on Camerons family estate!