The Charge of the Light Cy-près

The cy-près doctrine empowers courts to rescue funds held on a frustrated charitable trust by applying them to a different purpose. In Zedra Fiduciary Services (UK) Ltd v HM Attorney General [2023] EWCA Civ 133, the Court of Appeal upheld a decision applying the funds of a substantial and unusual charitable trust towards relieving the UK’s national debt. In this article, we offer a brief history of the trust before considering the Court of Appeal’s judgment. We argue that the decision is justified, but reveals flaws in legislative reforms, which have sought to create more flexibility in the doctrine.