Introduction The Royal Court of Jersey has held in the case of Kea Investments Limited v Watson [1] that it is not possible for a judgment creditor to obtain execution against the interest of a discretionary beneficiary under a Jersey trust. Although a beneficiary’s interest is a species of movable property, it is not transmissible…
Important changes were made to the UK’s deemed domicile regime in 2017 which are now a significant area of risk for offshore trustees with UK resident settlors.
An analysis of the possible ramifications of the English High Court’s decision in Pugachev and its impact on Jersey trusts, approaches to ‘trust busting’ and the inherent risks in Jersey’s reservation of powers legislation.
The dissemination of knowledge about how Jersey trusts work has come on leaps and bounds in recent years, owing to the proliferation of publicly available judgments of the Royal Court. For those not familiar with, or inclined to navigate, the extensive online database of Jersey case law, attempting to find the answer you want within…
The States of Jersey is shortly to amend the Trusts (Jersey) Law 1984 for a seventh time. The 2016 consultation paper canvassed views on whether to amend the Trusts (Jersey) Law 1984 in twelve areas in which there were perceived either to be difficulties with the current law or where it was thought improvements could…
Guernsey’s Court of Appeal has declared, for the first time, the meaning and effect of the key provision in Jersey’s law concerning the liabilities of trustees to third parties to the trust in Investec Trust (Guernsey) Limited & Ors V Glenalla Properties Ltd & Ors. 41/2014 Background Facts The proceedings concerned the administration of the Tchenguiz…
The High Court has held in Rawstron and Anor v Freud [2014] EWHC 2577 (Ch) that a gift in the last will of the artist Lucian Freud took effect as an absolute gift to two named individuals in their personal capacities absolutely and was not given to them on trust under the will. However, the court heard…
On 16th July 2014 the Supreme Court handed down its judgment in FHR European Ventures LLP and others v Cedar Capital Partners LLC [2014] UKSC 45. This decision settles a long-running argument in English law as to whether a principal has a proprietary or a merely personal claim against an agent who takes a bribe…
The Jersey Royal Court has finally laid to rest the long-standing debate concerning the jersey limitation period for claims in dishonest assistance. In the extremely lengthily decision (at 519 paragraph) of Nolan & Ors v Minerva Trust Company Limited and Ors [2014]JRC078A the Royal Court held that the relevant prescription period is 3 years from…
The Royal Court has very recently clarified the principles to be applied as to whether assets of a discretionary trust fall to be considered as ‘realisable property’ of a person who is a discretionary beneficiary of such a trust. In Tantular v HM Attorney General [2014] JRC 128 the beneficiaries of a Jersey discretionary trust,…
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