Problems with trustees

We are defending a Cyprus-based trustee who faces beneficiary claims of USD$150 million in the British Virgin Islands Commercial Court.

We advised a beneficiary of a trust who was in dispute with another beneficiary and the trustee who was holding shares in a luxury fashion brand worth over Euro30m. Court proceedings were ongoing in England and Italy, involving our London and Milan offices, before the trustee was successfully replaced and the other issues between the parties compromised to avoid publicity over the businesses involved.

We acted for a beneficiary in proceedings concerning trustee negligence in relation to investment losses. It is believed to be the first case in the Channel Islands courts to consider the question of what degree of knowledge will prevent a beneficiary bringing a breach of trust claim beyond the time period required by statute.

Advising a blue-chip offshore trust company on its involvement in English divorce proceedings concerning attacks on trusts worth over £25m. We handled the disclosure issues for the trustee and eventually the case was concluded without the trustee being formally joined to the English proceedings.

Acting for three of the six children of the late Walter Henchley in proceedings concerning two trusts settled in September 1960, our clients sought an order that the sole surviving trustee (or de facto trustee) of both trusts provide an account in common form of his dealings with the trust assets during the period of his trustee.

We acted for the beneficiaries of two trusts in this ground-breaking application under newly-enacted Bermuda law provisions dealing with mistakes by trustees and other power-holders in relation to trusts. Despite the application being contested by the UK tax authority it was successful and the adverse consequences that the trusts had suffered were unwound.

We are defending a Cyprus-based trustee who faces beneficiary claims of USD$150 million in the British Virgin Islands Commercial Court.

We acted for the beneficiaries of two trusts in this ground-breaking application under newly-enacted Bermuda law provisions dealing with mistakes by trustees and other power-holders in relation to trusts. Despite the application being contested by the UK tax authority it was successful and the adverse consequences that the trusts had suffered were unwound.