Re Piedmont Trust and Riviera Trust [2022] WTLR 1403
Winter 2022 #189The trustees of two Jersey trusts known as the Piedmont Trust and the Riviera Trust made a Public Trustee v Cooper Category 2 type application for a ‘blessing’ of their decision to make distributions that would exhaust the funds of those trusts.
Detailed background to the trusts and of disputes that had previously arisen in relation to them was set out in Re Jasmine Trustees Ltd and Piedmont Trust [2015] (the 2015 judgment) and Re Piedmont Trust and Riviera Trust [2018] (the 2018 judgment).
The Piedmont Trust was a revocable discretionary trust es...
Re May Trust [2022] WTLR 637
Summer 2022 #187The trustee of a Jersey trust known as the May Trust made a Public Trustee v Cooper Category 2 application for a ‘blessing’ of its decision to make a distribution to a beneficiary (B). The primary purpose of the distribution was to allow B to benefit a charity, which was also a beneficiary of the trust. The application was uncontentious.
The trust had been declared in 2000 by a deed of appointment. The appointing trust had been settled by B’s father in Cayman in 1982. The governing law of the May Trust was changed from Cayman law to Jersey law. The assets of the appointing trust w...
Re Arpettaz Settlement [2021] WTLR 1171
Winter 2021 #185The settlement, a discretionary trust governed by the law of Jersey, was established on 18 July 2011 (the settlement). The settlor, then the chairman of an oil exploration company, originally settled £35,000. Subsequently, a further sum of $15m was settled by the settlor’s wife on 12 February 2012. The principal beneficiary, who was the chief executive officer of the oil company, and the immediate members of his family were the beneficiaries of the settlement. The second to fifth respondents (the English claimants) issued proceedings in the English High Court against the settlor, allegin...