The Global Resource Trust No.1 (the GRT) was created by a declaration of trust dated 10 May 2001. It was accepted that the true economic settlors were two brothers, YC Wang and YT Wang (the founders), who had built a group of companies from the 1950s into one of the largest business conglomerates in Taiwan (FPG Group). They had died in 2008 and 2014 respectively.
Shortly after the GRT was established, Grid Investors Corp, an investment holding company ultimately owned by the founders which held shares in FPG companies, was transferred to the GRT trustee. The value of those shares ...
The testatrix (T), whose husband predeceased her, was survived by her four children, B1, B2, B3 and B4. T had appointed B3 and the partners of a solicitor firm as the executors of her will. She left the residue of her estate on trust to be divided into four equal shares: one for the benefit of each of B1, B2 and B3, and the fourth upon discretionary trusts, which included a wide power of appointment, for the benefit of B4 and his children and remoter issue. At the time of the hearing, B4 had three adult children and one minor grandchild. T died in 2010 and probate of her will was granted...
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