Wills & Trusts Law Reports | Spring 2023 #190The Privy Council determined appeals from the Jersey Court of Appeal (the Jersey appeal) and from the Guernsey Court of Appeal (the Guernsey appeal) concerning the rights of indemnity of successive trustees against the assets of trusts governed by Jersey law, whose assets were insufficient to meet in full the liabilities incurred by their trustees.
The Jersey appeal
The original sole trustee of two Jersey trusts settled by the late Madam Intisar Nouri was Equity Trust (Jersey) Ltd (Equity Trust). Equity Trust was later replaced as sole trustee by Volaw Corporate Trustee L...
Mark Pawlowski takes a critical look at the first in time rule as a means of resolving the problem of competing estoppel equities Where all are equally innocent, priority, as we have seen, is determined by the order at which the equities arose in time. But the position is different where the equities are not …
Continue reading "Competing equities: A thorny issue"
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