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
What is the role of the Royal Court of Jersey in trustee applications for directions regarding disclosure of trust information?
A recent application has raised the issue of the function of the court, namely whether the court was exercising its own discretion in supervising, and intervening, in the administration of a trust.
Royal Court clarifies limits of customary law exception in respect of time-barred breach-of-trust claims brought by incoming trustee
Where a newly incorporated PTC recently appointed as successor trustee seeks to bring claims for breach of trust against predecessors, it will not be able to benefit from empêchement d’agir.