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The Judicial Committee of the UK Privy Council (the Privy Council) has ruled four to three in Equity Trust (Jersey) v Halab and ITG v Fort Trustees (Guernsey that there is no chronological priority for trustees where there is insolvency. Rather the approach taken is one of pari passu: that is, trust assets should be … Continue reading
Being a trustee is hard. Hallmark persistently fails to produce a Love your trustee card. There is no national, or international trustee day. It can be hard slog. And yet, when the beneficiaries say we don’t want you, we want someone else, trustees turn up all guns blazing overflowing with umbradge. The difficulty is knowing … Continue reading
Being a trustee is increasingly more skittles than beer. “Beddoe orders” are an avenue for trustees to pursue or defend proceedings without facing personal liability. McCallum v McCallum concerns an appeal against partial Beddoe orders. At the opening of his novel Anna Karenina, the Russian novelist Tolstoy writes “All Happy families resemble one another, but … Continue reading
McGuire v Earl is a successful application for the following trust information: statements of accounts copies of all Minutes and Resolutions any documents pertaining to any distributions all documents pertaining to any gifting or debt incurred, and bank statements for all bank accounts. The trust in question was settled by Mr McGuire’s father and Mr … Continue reading
Webb v Webb relates to whether a tax debt owed by the former husband in New Zealand is enforceable in the Cook Islands, and what that means in the context of the division of matrimonial property in the Cook Islands; the validity of two trusts settled on somewhat unusual terms; and valuation considerations when a … Continue reading
The facts of McAtamney v McAtamney are simple.Frank McAtamney was settlor and appointor of the Waimarie Second Family Trust. Notwithstanding that Frank’s late wife had no power of appointment, Frank and his wife twice purported to appoint new trustees.As set out at [11] and [12]:[11] Frank has now received legal advice that those deeds of … Continue reading
PR Law Queenstown No 1 Trustees Limited (In Liquidation) relates to an urgent application by PR Law Queenstown No 1 Trustees Limited (In Liquidation) (the Company) who is one of two corporate trustees for directions under s 66 of the Trustee Act 1956 for the sale of trust owned shares to meet liabilities incurred as … Continue reading
In Jacomb v Jacomb Cooke J provides a considered assessment of disclosure in the context of a troubled and disenfranchised beneficiary. The case highlights the need for careful analysis of facts when seeking disclosure, the relevant principles, and importantly given that the Trusts Act 2019 will come into full force and effect on 30 January … Continue reading
Walker v Walker is one of many cases that finds itself before the courts requiring assistance with the appointment, retirement or removal of trustees as a result of trustee incapacity. However, one aspect of the case that warrants further interest is the “possibility that former trustees have technically remained trustees because they were not properly … Continue reading
The proceedings in Bone v Tuck relate to an application for the removal of Mr Tuck as a trustee of the Tuck Family Trust (the Trust). The background can be explained as follows: [3] Ms Bone alleged that Mr Tuck had not acted appropriately as a trustee and ought to be removed. [4] Mr Tuck … Continue reading
Matters of Trust 