Trust disputes

IN THE MATTER OF THE A LIMITED FURBS AND THE B EBT [2017] 21/2017

Summary The recent case of A Limited FURBS decided in the Guernsey Royal Court provides helpful clarification on the question often faced by offshore trustees about whether to submit to the jurisdiction of a foreign court in overseas legal proceedings. … Continue reading

Leave a Comment

Filed under Offshore, Private wealth and trusts, Trust disputes

Cayman courts emphasise the importance of Beddoe relief and its availability in situations where a third party claim is for an amount greater than the Trust assets.

In the case of X (as Trustee of the A Trust) v Y (beneficiary of the A Trust)[1], the court reiterated the importance for Trustees of seeking Beddoe relief before commencing or defending an action. Obtaining Beddoe relief ensures that … Continue reading

Leave a Comment

Filed under Offshore, Private wealth and trusts, Trust disputes

London High Court considers trustee decision-making processes

The High Court of England and Wales has provided useful guidance for trustees generally as to the scope of their powers and the manner in which they may properly go about their decision-making processes. These issues arose in connection with … Continue reading

Leave a Comment

Filed under London, Trust disputes

“Dishonesty at its highest level and gravity” – when solicitors commit offences against client estates

This blog post will consider a number of recent cases in England where solicitors have been convicted of offences or struck off the register for misappropriating client funds from deceased estates. These shed light on the surprising levels of abuse … Continue reading

Leave a Comment

Filed under Estates disputes, 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

Leave a Comment

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

Leave a Comment

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

Leave a Comment

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

Leave a Comment

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

Leave a Comment

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

Leave a Comment

Filed under Private wealth and trusts, Trust disputes