Jersey leads the way with Hastings-Bass legislation
The States of Jersey has this week approved the latest amendment to the Trusts (Jersey) Law 1984, which will codify the Hastings-Bass principle as it has been developed in the Jersey courts and will also codify the principles developed in relation to mistake. The amendments to the law, the plans for which were announced only a few months ago, will have retrospective effect and will provide welcome certainty to settlors, trustees, other fiduciaries and beneficiaries of Jersey trusts, particularly in the wake of the Supreme Court decision in Pitt v Holt and Futter v Futter  UKSC 26.
The amendment (Trusts [Amendment No. 6] [Jersey] Law 201-), which, subject to Privy Council sanction, is likely to be in force before the end of 2013, includes the following provisions relating to transfers or dispositions into trust as well as exercises of powers in relation to a trust…
If you are registered and logged in to the site, click on the link below to read the rest of the Appleby briefing. If not, please register or sign in with your details below.
News from Appleby
News from The Lawyer
Briefings from Appleby
Bermuda’s legal framework facilitates the creation of flexible and economically viable co-investment vehicles within a stable and business-friendly jurisdiction.
Feltham v Bouskell provides a cautionary tale for lawyers regarding the need to act quickly upon the receipt of instructions from elderly or ill clients.
Analysis from The Lawyer
The past quarter has been busy for the offshore sector as firms have looked to capitalise on globalisation, while workflow has remained high
Business is booming in the Isle of Man, a small jurisdiction that thinks big