Wragge Lawrence Graham & Co
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Both cases discussed in this briefing provide useful guidance on the stance the Bermudan courts will take in relation to assisting foreign liquidators.
The Royal Court in Jersey has ruled that a private trust company seeking to bring claims for breach of trust could not benefit from empêchement d’agir.
The Taxation (Exchange of Information with Third Countries) (Amendment No. 7) (Jersey) Regulations 2013 came into force on 6 November 2013.
This case arose out of the divorce proceedings between Mrs Tchenguiz-Imerman and Mr Imerman.
The Royal Court of Guernsey was asked to consider the circumstances in which trustees could be personally liable to repay loans obtained in their capacity as a trustee.
The answer, following the Privy Council decision in Caribbean Steel Company Ltd v Price Waterhouse (a Firm)  UKPC 18, is very fundamental.