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The decision of the England and Wales Court of Protection (the “COP“) in Re GED (Various Applications Concerning Foreign Representative Powers) [2019] EWCOP 52 concerned five separate applications asking the COP to make orders giving effect to foreign representative powers in England and Wales. In reviewing these application the COP stated that the approach previously … Read more
We have launched our annual survey to map the major risk and compliance issues facing trust companies. We are looking to identify the key trends in the industry and understand the main risks and challenges trust companies encounter, to help equip the industry with how to best tackle them. The survey takes the form of … Read more
Following on from our earlier blog posting where we reported on the background of Zhang Hong Li v DBS Bank and others and the Hong Kong Court of Final Appeal’s (CFA) decision to overturn the Court of Appeal’s (CA) findings, we now set out below our more detailed analysis of the CFA’s decision. Read more
In the recent decision of Watson v Kea Investments Ltd [2019] EWCA Civ 1759 the English Court of Appeal endorsed the approach taken by the High Court in determining the interest rate to be applied to an equitable compensation payment which arose out of a breach of fiduciary duty. The High Court judge had been … Read more
Welcome to Herbert Smith Freehills’ new monthly private wealth industry updates in Asia. Every month we survey ten Asian jurisdictions for legal developments concerning trust and estate planning which are of interest to the private wealth industry, and provide a succinct summary in a table format. The jurisdictions covered in the update are Hong Kong, … Read more
In the fourth episode of our Private Wealth and Charities podcast series, Richard Norridge, Michael Hunt and Jade Hu discuss the ins and outs of registering a charity in England & Wales. We focus on some common pitfalls and problems which we have seen arise in practice when applying to register a charity, and share … Read more
Summary Trustees often seek to limit their liability in the form of exoneration clauses in trust deeds. As such, it is generally difficult for a beneficiary to challenge a trustee’s decision that falls within the scope of the exoneration clause. In Sofer v SwissIndependent Trustees SA [2019] EWHC 2071 (Ch), the England and Wales High … Read more
Earlier today, the Hong Kong Court of Final Appeal handed down judgment in Zhang Hong Li v DBS Bank and others a case which has been the cause of considerable discussion in the private wealth and trusts world. The Court of Final Appeal reversed the Court of Appeal’s findings and ruled that the anti-Bartlett clause … Read more
In the recent case of Begum v Ahmed [2019] EWCA Civ 1794, the Court of Appeal granted permission for the Appellant to bring a claim 12 months out of time to apply for financial provision under section 4 of the Inheritance (Provision for Family and Dependants) Act 1975 (the “Act“), where refusing permission could have … Read more
