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Colonial Trust Loses Action in South African Court

November 2, 1939
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The Jewish Colonial Trust has lost an action before the South African Supreme Court to obtain immediately whatever funds from the £400,000 Albert Nathan estate are not needed for annual legacies — said to amount to approximately £287,000. Nathan’s will, probated in 1924, provides that certain amounts be paid annually to charitable organizations and relatives and after 50 years the estate be wound up and the residue turned over to the trust for use in restoring Jews to their ancient homeland in Palestine. The trust contended that since the earnings of the estate were far in excess of amounts required for annual legacies, it should receive the unneeded £287,000 immediately.

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