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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.
Interim injunctive relief is a powerful tool and the ability to freeze a defendant’s assets to prevent dissipation before a matter reaches trial can be an important protective step.
This briefing concerns the latest judgment in the Ablyazov matter following a third application brought by English court appointed receivers, in which the Jersey Royal Court held that it had jurisdiction to appoint the receivers (whose appointment had been recognised by the Jersey Court in an earlier judgment) as managers of a Jersey company.