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TRUSTEES : Who pays?

12 May 2017  

John Greenfield and Elaine Gray outline recent Channel Island decisions on the personal liability of trustees

This article reviews a series of judgments delivered in 2014 and 2015 by the Guernsey Court of Appeal in the long-running Tchenguiz litigation. In particular it is worth looking at a judgment delivered on the 29 October 2014 Investec Trust (Guernsey) Ltd & ors v Glenalla Properties Ltd, which provided the first ever judicial interpretation of the statutory regime introduced by the laws of Guernsey and Jersey as to the personal liability of trustees for any obligations arising out of a Channel Island trust.

Additional Info

  • Case(s) Referenced:

    Re Bamford [2003] JCA 048

    Investec Trust (Guernsey) Ltd & ors v Glenalla Properties Ltd & ors (2014) unreported, Guernsey CA (28/2014), 29 October