 In the High Court Colin Rimer QC, sitting as a Deputy High Court Judge, held that since the shares were all identical, the lack of segregation between them did not invalidate the trust. The standard case in this area, Re London Wine Co (Shippers) Ltd, was distinguished because the subject matter there was potentially different, while all of Moss's shares were identical. Rimer J instead cited with approval Rollestone v National Bank of Commerce in St. Louis, a decision of the Supreme Court of Minnesota where it was held that there was no need for segregation in such a situation.
