A v B & ors [2020] WTLR 385

Summer 2020 #179

The plaintiff trustees of a discretionary trust governed by Cayman law sought a declaration concerning the power of variation conferred by the trust instrument, and which was in the following terms:

‘The Trustees may, with the consent of the Settlor during his lifetime, at any time and from time to time by instrument in writing vary, add to, revise or modify, the terms and conditions of this Settlement except that no such amendment may be made which either changes any Beneficiary hereunder or alters that [sic] terms of clause (I) of subsection 3.4 of this Settlement.’

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