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ENGLISH HIGH COURT FINDS SETTLOR RETAINED BENEFICIAL OWNERSHIP
In the latest decision in the long running Pugachev dispute, the High Court considered the effect of five trusts set up by Mr Pugachev, and whether the …
Transfer into Guernsey trusts set aside on grounds of mistake despite the fact the transfer was made solely to reduce tax
The Guernsey Royal Court recently ordered, under s. 69(1)(a)(iv) of the Trusts (Guernsey) Law 2007 (the "Act"), that a transfer of shares into Guernsey …
When not to tell a beneficiary?
In a recently released judgment, In the matter of C Settlement [2017] JRC 035A, the Jersey Royal Court confirmed that, in principle, a trustee can …
IN THE MATTER OF THE A LIMITED FURBS AND THE B EBT [2017] 21/2017
Summary The recent case of A Limited FURBS decided in the Guernsey Royal Court provides helpful clarification on the question often faced by offshore …
Cayman courts emphasise the importance of Beddoe relief and its availability in situations where a third party claim is for an amount greater than the Trust assets.
In the case of X (as Trustee of the A Trust) v Y (beneficiary of the A Trust)[1], the court reiterated the importance for Trustees of seeking Beddoe …
London High Court considers trustee decision-making processes
The High Court of England and Wales has provided useful guidance for trustees generally as to the scope of their powers and the manner in which they may …
“Dishonesty at its highest level and gravity” – when solicitors commit offences against client estates
This blog post will consider a number of recent cases in England where solicitors have been convicted of offences or struck off the register for …
Akers v Samba: Trusts over foreign assets
The UK Supreme Court has held that the extinction of a company's beneficial interest under a trust on the transfer of an asset by the trustee to a bona …
OUTGOING TRUSTEE HAD NO RIGHT TO RETAIN TRUST ASSETS OR RECEIVE A CONTRACTUAL INDEMNITY FROM THE SUCCESSOR TRUSTEE
The Supreme Court of Bermuda has held that a trustee has no general right to retain trust assets to meet its potential liabilities when a successor …
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