Donald Lilly explores the timing of proprietary interests when there is an insolvency Where a disposition of a mere expectancy or other future property is involved in a document, the question of when the right in that expectancy or property arises should be considered as part of the drafting process. The recent decision in Patel …
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Wills & Trusts Law Reports | Spring 2019 #174The Background
The Privy Council heard eight appeals arising from the management of the Tchenguiz Discretionary Trust (“TDT”) between March 2007 and October 2008.
The TDT is a discretionary trust governed by the law of Jersey; in the period in question it had two trustees which were governed by Guernsey law: Investec Trust (Guernsey) Limited (“Investec”) and Bayeux Trustees Limited (collectively “the Trustees”). In July 2010 the Trustees were replaced as trustees of the TDT by Rawlinson & Hunter Trustees SA (“R&H”), a company incorporated in Switzer...
