Trust disputes

Akers v Samba: Trusts over foreign assets

The UK Supreme Court has held that the extinction of a company's beneficial interest under a trust on the transfer of an asset by the trustee to a bona fide purchaser without notice does not constitute a "disposition" under section … Continue reading

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Filed under Private wealth and trusts, Trust disputes

BVI Court of Appeal Comment on Trustees’ Duty to Account and Evidential Presumptions in Trusts

The BVI Court of Appeal has recently allowed an appeal concerning a trustee's failure to account and breach of trust.[1] The breach of trust arose as a result of the trustee making an appointment of the trust assets without considering … Continue reading

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Filed under Offshore, Trust disputes

Family dispute over the setting-up of a trust rejected because plaintiff consented to the trust at the time of establishment

In a recent case, the Singapore High Court has held that a plaintiff's agreement to the setting-up of a trust to protect a family's wealth (including the assets of a deceased family member) was a valid defence for a defendant … Continue reading

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Filed under Estates disputes, Hong Kong and Singapore, Private wealth and trusts, Trust disputes

Hong Kong Court rejects case that shares were held on trust, finding that evidence adduced was inconsistent

The Hong Kong High Court has recently held that Eric Hotung had not imposed a trust in his favour when he gave HK$2,000,000 to Ho Yuen Ki in 1961 for the purchase of shares in a Macau gambling business.1 Whilst … Continue reading

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Filed under Hong Kong and Singapore, Trust disputes

Leading Herbert Smith Freehills lawyers to speak at major trusts conference in London

Members of Herbert Smith Freehills' Contentious Trusts team (Tom Leech QC, Richard Norridge and Gareth Keillor) will be speaking at a conference on Trustee Protection on 20 October 2016, along with a number of other leading practitioners in this area. … Continue reading

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Filed under Private wealth and trusts, Trust disputes

High Court of Justice in the Isle of Man finds the Isle of Man is not bound by English Supreme Court decisions in the area of trustee mistake

The High Court of Justice of the Isle of Man has indicated that the English Supreme Court decision in Pitt v Holt1 should not be followed in the Isle of Man. At the same time, the Court reiterated that the … Continue reading

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Filed under Private wealth and trusts, Trust disputes

Professional trustees avoid liability for investment losses

The London High Court recently held in Daniel and another v Tee and others [2016] EWHC 1538 (Ch) that three professional trustees of a will trust were not liable for alleged losses of £1.5 million incurred by the trust due … Continue reading

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Filed under Private wealth and trusts, Trust disputes

Jersey court exercises its power to set aside the actions of a settlor and ratify those of a purported trustee

In the recent decision of the Royal Court of Jersey In the Matter of the Z Trust [2016] JRC 048, the Royal Court declared voidable and set aside the appointment of trustees based in the UK by the settlor of … Continue reading

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Filed under Offshore, Private wealth and trusts, Trust disputes, Uncategorized

Royal Court of Jersey strikes out application for freezing order over assets held in discretionary trust

In the recent Jersey case of Attorney General v Rosenlund [2016] JRC 062, the Royal Court of Jersey granted an application by a discretionary beneficiary of a trust to strike out the Jersey Attorney General's application for a saisie judiciaire … Continue reading

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Filed under Offshore, Trust disputes

London High Court defends a trustee’s right protection from costs

In Felicity Mary Mackley Blades v Richard Auberon Isaac and Christopher Allen Alexander [2016] EWHC 601 (Ch), a decision on costs handed down in March 2016, the English High Court agreed with the argument of the trustee defendants that where the trustees … Continue reading

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Filed under Costs, London, Trust disputes