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Asset protection is a common reason for settling assets onto a trust. However, where there are debts owing from trustees back to the settlor, these debts remain an asset in the settlor’s hands. How such debts are treated following bankruptcy is explored in the Official Assignee v Black. In that case Nigel Black (Nigel) and … Continue reading
In the matter of The Piedmont Trust and the Riviera Trust relates to an application for the Jersey Royal Court to approve the final distribution of trust assets in circumstances where the beneficiaries are in agreement regarding the termination of the trusts (but where there is disagreement regarding the allocation of the trust assets between … Continue reading
The background of this matter is set out at [1], [2], [3] and [4] of the High Court judgment as follows: [1] The plaintiff, Camray Farms Ltd (Camray), and the second defendant, the Gordon Moore Trust (GMT), each claim priority to the proceeds of sale of properties in Ohaupo known as the Neighbouring Property and … Continue reading
Editor’s note: this decision has been appealed. See First up, best dressed. As noted in Representation of Rawlinson & Hunter SA re Z Trusts at decision of the Royal Court of Jersey at [2] a trustee’s equitable lien is a “device of equity granted to trustees by the Court to give them rights of indemnity and priority … Continue reading
Matters of Trust 