Re C Trust [2021] WTLR 69

Spring 2021 #182

This was an application by P (a current trustee) to be appointed as sole trustee of the trust under s31(1) Trustee Act 1975 (Bermuda), and for liberty to manage the assets of the trust on the basis that it had been validly appointed as trustee by a deed dated 1 July 2015.

The trust was established by a deed dated 22 June 1965 between the settlor and the original trustee. It was a discretionary trust, with the beneficiaries including the settlor and his brothers then living or born at any time thereafter, subject to certain limitations in favour of the male line of descend...

In the Matter of the X Trusts [2019] WTLR 1055

Autumn 2019 #176

The corporate trustees of a Bermuda discretionary trust made proposals to the beneficiaries to restructure the trust administration. Some beneficiaries objected to the proposals and requested that particular directors of the trustee companies, being closely allied with other beneficiaries, resign. Other beneficiaries broadly supported the proposals, and said the Court could not order such resignations. The trustees sought directions from the Court, including a direction as to whether they should remain as trustees, and certain directors offered to retire if the Court signified that they ...

Guardian Ltd v Bermuda Trust Company Ltd WTLR(w) 2019-09

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Meritus Trust Company v Butterfield Trust Ltd [2018] WTLR 545

Summer 2018 #172

The Plaintiff (Meritus) was removed as the trustee of two trusts and replaced by 
the Defendant (Butterfield). Meritus applied by Originating Summons for an order 
that Butterfield transfer immediately all the assets of those trusts (the E Trust and the 
M Trust). Butterfield asserted, first, that it was entitled to retain sufficient trust 
assets against which to enforce its indemnity in relation to its contingent cost liability (estimated at $5 million) in relation to a threatened claim in respect of Butterfield’s management of the trust assets; second, that it was entitled to a contra...

Re The Hanover Trust [2013] SC (Bda) 38 Civ

December 2016 #165

A trustee (T) of Bermudian trusts applied to the Bermudian court by an originating summons for directions. The originating summons named the settlor and principal beneficiaries as defendants. The application invoked the Bermudian court’s supervisory jurisdiction over Bermudian trusts.

The issue arose as to whether T needed leave to serve the originating summons on four overseas resident defendants.

Held:

  1. 1) Leave for service of an originating summons out of the jurisdiction is not required for non-contentious applications by Bermudian trustees for directions ...

In the matter of F Trust –

June 2016 #160

The applicants, three trustees of the F Trust and the A Settlement (the trusts), applied, pursuant to s47A of the Trustee Act 1975 and/or the inherent jurisdiction of the Court, to set aside deeds of appointment and retirement of trustees executed in 2005 and 2008, respectively, to the extent that they appointed the first defendant as a trustee.

The F Trust and the A Settlement were established in Bermuda with the same corporate trustee in 1958 and 1968 respectively. Individual trustees were subsequently appointed. The first defendant, a British resident, was app...