Wills & Trusts Law Reports | May 2015 #149This was an appeal from a judgment of the Chief Justice dated 12 March 2013 and his subsequent order of 24 April 2013 which required the trustees of a trust to produce financial information to a beneficiary of the trust who was interested in 35% of the trust fund (the minor beneficiary). This appeal was brought by the appointed protector of the trust who was also the principal beneficiary of the trust.
The trust deed contained an information control mechanism (clause 9.2 of the trust deed) which prevented the disclosure of financial information to a beneficiary unless the prot...
Wills & Trusts Law Reports | September 2014 #142Mr French (F) was either a protector or member of the committee of trust protectors of each of nine trusts governed by the law of the Isle of Man. The trusts were set up with one or other of two American brothers and their families as beneficiaries in various combinations. Trusts set up in 1992 contained a clause (clause 8.7) ‘the trustee may grant an indemnity out of the trust fund to any committee member or to such delegatee upon such terms as the trustee may think fit.’ while those set up in 1994/1995 provided in sch 4, para (8) (b) that:
‘E...
Wills & Trusts Law Reports | March 2013 #127The four claimants were professional trustees of a total of nine trusts, all governed under Isle of Man law. Some of nine trusts were created for the benefit of Samuel Wyly and his immediate family and the remainder for his brother Charles Wyly and his immediate family.
Michael French, the defendant, was either a protector or a member of the committee of trust protectors for each trust. He retired from all these positions in December 2000.
Proceedings had been brought against Mr French and the Wyly brothers in New York by the US Securities and Exchange Commission (the SEC...
David Sawtell examines the growing instance of personal injury fraud ‘Defending a case on the grounds that it is fraudulent is expensive and time consuming. Sometimes it appears that the case would have little merit if it went to trial.’ Personal injury fraud is now big business. Last year’s report by the BBC’s Panorama program …
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Wills & Trusts Law Reports | March 2012 #117Privy Council (Lady Hale, Lord Mance, Lord Kerr, Lord Clarke and Sir Robin Auld)
The respondents made claims for breach of trust against the appellant in respect of breaches that occurred in Guernsey at a time when Guernsey customary law governed the duties of Guernsey trustees and also after the introduction of the Trusts (Guernsey) Law 1989 (the 1989 Law), but before that law was amended by the Trusts (Amendment) (Guernsey) Law 1990 (the 1990 Law). The trust instrument included an exoneration clause in respect of negligence by the trustee and ...
