Royal Court of Jersey applies Hastings-Bass provisions in relation to incorrect tax advice

We have previously reported on two provisions of the Trusts (Jersey) Law 1984, Articles 47H and 47G, which had been introduced following the UK Supreme Court’s judgment in Pitt v Holt [2013] UKSC 26 (see our previous post here).  That judgment overturned years of common law case law as to what had been thought to be the rule known as the rule in Re Hastings-Bass. In a recent judgment, In the matter of the L Trust [2017] JRC 191, the Jersey Royal Court applied Articles 47H and 47G to set aside an exercise of a power by a trustee who had relied on incorrect tax advice when deciding to act. This decision demonstrates the Jersey court’s continued willingness to act to protect beneficiaries where trustees have relied on incorrect advice when making decisions. Continue reading

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 (a Jersey variant on a freezing order granted in support of a confiscation order made in foreign criminal proceedings) over the assets of that trust.

Continue reading