-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
Geneva Trust Company v Tchenguiz is one of many judgments of the Jersey Royal Court that relate to the Tchenguiz Trusts. In this case the Geneva Trust Company (Geneva) sought reimbursement of costs it incurred defending proceedings brought against it in the English High Court. A brief history of the matter is set out in the … Continue reading
Where a trustee wishes to retire, the first inquiry as to how to do so, must be to the terms of the trust. If the trust instrument is silent, then the provisions of the Trustee Act 1956 will prevail. However, what might the position be if the trust instrument provides for retirement, but does not … Continue reading
In the Matter of the Zoanz Trust provides a practical solution where the settlor trustees no longer wish to participate in day-to-day trust administration. As noted at [11]: “The property requires remedial works due to weathertightness issues and the body corporate has issued levies to the Trust. Approximately $250,000 is outstanding. It is necessary for the … Continue reading
On 11 December 2019, Vicki Ammundsen is presenting a webinar Trust Series 2019 – Current Trust Issues. This webinar will provide an up to date consideration of the issues facing trustees and their advisers in a rapidly changing trust landscape. The webinar will be complimented with materials that expand on the matters discussed. HIGHLIGHTS This … Continue reading
The proceedings in McLaughlin v McLaughlin relate to a dispute between the beneficiaries and trustees of the Ashley Trust (the Trust) and whether there should be an interim injunction to prevent the trustees from proceeding with the next stage of a development of trust property. By way of background see A little light on Beddoe … Continue reading
Jellyman v Jellyman is about two children with different views as to what is in their mother’s best interests. The matter came before the court because Mrs Jellyman was a trustee of a testamentary trust under her late husband’s will. Her son Maurice was the other trustee. Mrs Jellyman wanted to sell her home in Hastings … Continue reading
Triezenberg v Mason (As to power and appointment and costs) follows the earlier trustee removal decision. See Buyer’s remorse. By way of background the High Court removed Mr Mason and his incapacitated wife as trustees of two family trusts. A rift had occurred between the competent trustees that had resulted in significant dysfunction. No orders … Continue reading
CDT 12 Limited v Millar doesn’t answer the Jasmine question, but does raise considerable doubt as to whether Jasmine applies in New Zealand. For the background to the “Jasmine” issue, see Two trustees go down to the woods … one is discharged, one is not and Exit stage left. Mallon J’s decision on the papers in … Continue reading
Oldfield v Oldfield relates to the trust consequences of a marriage breakup. Specifically, who should be the trustees when the settlors, who are also trustees, can no longer work together. Mrs Oldfield wishes to see Mr Oldfield removed as a trustee. Mr Oldfield’s view is that it is not appropriate to replace the trustees, rather the … Continue reading
The rule in Saunders v Vautier is generally well understood. However, the parameters of the rule are less clear. As noted in the Law Commission’s Third Issues Paper on the Review of the Law of Trusts “Perpetuities and the Revocation and Variation of Trusts”: The scope of the rule has become wider than merely allowing a … Continue reading
Matters of Trust 