Joinder of adult beneficiaries to matrimonial proceedings affecting trusts — Tchenguiz-Immerman v Immerman
In this case, the English Family Division provided some helpful guidance on its approach to adult beneficiaries of offshore trusts being joined as parties to matrimonial proceedings.
The case involved an application by three adult beneficiaries to be joined as parties to financial remedy proceedings, despite having previously supported the decision of the four Trust Companies not to participate in those proceedings. The question before the court was whether the beneficiaries were bound by the orders of the Royal Court of Jersey and East Caribbean Supreme Court sanctioning the trustees’ decisions.
In the course of contested financial remedy proceedings between a husband and wife, the wife applied for a variation, as postnuptial settlements, of a number of offshore trusts located in Jersey and the British Virgin Islands with a value of around £130m…
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Briefings from Mourant Ozannes
Jersey Court of Appeal confirms rights of non-trustee fiduciaries to an indemnity out of the trust fund
On appeal from the Royal Court, the Jersey Court of Appeal held that a fiduciary in relation to a trust had an identical right of indemnity in equity out of the trust fund as a trustee.
The interpleader proceedings in Guernsey are dealing with substantial assets claimed to be the proceeds of a fraud alleged against Nikolai Battoo and the BC Capital Group.