The Appleby 2012 offshore round-up: trust disputes
Welcome to Appleby’s review of the key decisions handed down in trust cases in the leading offshore jurisdictions during 2012, compiled by members of our Litigation & Insolvency Practice Group in Bermuda, the British Virgin Islands, the Cayman Islands, Jersey, Guernsey and the Isle of Man. Equivalent updates are available in the areas of insolvency & restructuring, company law, fund disputes, and civil procedure. Copies may be obtained from our website or from your usual Appleby contact.
Court decisions involving trusts have continued to come out of the offshore jurisdictions and in particular Bermuda, the Cayman Islands, Guernsey, Jersey and the Isle of Man. Highlights of the year include a lengthy trial in the Cayman Islands resulting in a landmark ruling concerning forfeiture clauses, breach of the fair dealing rule and the calculation of equitable compensation. There has also been extensive litigation in Jersey concerning the exercise by trustees of a power to exclude beneficiaries and constructive trust claims as a consequence of fraudulent activity in Brazil. The Court in the Isle of Man has been asked to consider indemnity provisions relating to a protector and the Guernsey Court has reminded parties of the limits of confidentiality. Bermuda, Guernsey and Jersey have been extensively involved in cases concerning the interpretation of trust deeds…
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