Equity Trust (Jersey) Ltd v Halabi [2022] WTLR 55
Wills & Trusts Law Reports | Spring 2023 #190The Privy Council determined appeals from the Jersey Court of Appeal (the Jersey appeal) and from the Guernsey Court of Appeal (the Guernsey appeal) concerning the rights of indemnity of successive trustees against the assets of trusts governed by Jersey law, whose assets were insufficient to meet in full the liabilities incurred by their trustees.
The Jersey appeal
The original sole trustee of two Jersey trusts settled by the late Madam Intisar Nouri was Equity Trust (Jersey) Ltd (Equity Trust). Equity Trust was later replaced as sole trustee by Volaw Corporate Trustee L...
Investec & anr v Glenalla & ors [2019] WTLR 95
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...