Should a trustee appeal a decision of the Royal Court in administrative proceedings? In the matter of the R and RA Trusts
The Court of Appeal in Guernsey has recently handed down an important judgment in non-contentious trust proceedings commenced by way of application made by the trustees, which sought disclosure from beneficiaries of a number of family trusts under the supervisory jurisdiction of the Royal Court in anticipation of then seeking the court’s blessing of a proposed ‘momentous’ decision.
The judgment will have significant weight in Jersey as well as Guernsey, as it was decided by Jersey’s bailiff (sitting as a Guernsey Court of Appeal judge) and the relevant statutory provisions are not materially different between the jurisdictions.
The trustees of the relevant family trusts wished to separate the interests of one beneficiary (the daughter). To do so they needed to value the assets of the trusts, which broadly consisted of (i) an investment portfolio, (ii) two property portfolios and (iii) business interests in Africa…
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Briefings from Ogier
The Cayman Islands legislature recently enacted The Insurance (Portfolio Insurance Companies) Regulations, 2015 and related sections of The Insurance (Amendment) Law, 2013.
There have been a number of significant legislative developments in Jersey since November 2012, as reflected in the length of this briefing.