Offshore – Law Journals

Offshore: Deed of gift set aside on account of a fundamental mistake

Royal Court of Jersey case Re B & C clarifies the principles for setting aside a disposition of assets into a nominee arrangement on the ground of donor’s mistake. Paul Matthams explains In applying the relevant test, it was still a requirement for the court to be satisfied that the donor or settlor would not …

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Rectification: Clarifying the nature of the test

The Jersey Royal Court has taken a divergent approach to rectification. Hugh Gunson and Thomas Watts analyse a recent decision The Jersey Royal Court’s conclusion that there is no merit in maintaining the fourth limb of the test for rectification is striking, particularly in view of the comments made by the Jersey Court of Appeal. …

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Offshore: Lessons for trustees and trust practitioners from Patel v JTC

Trustees should not become overly involved in family disputes, and court sanction should be obtained for any arrangements put in place. Damian Evans and Matthew Davies discuss When discord breaks out between family members, it is often the case that a trustee will find itself caught between the different sides of the family dispute. The …

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Offshore trusts: Equitable mistakes and undoing the past

Is a transaction one by which one party intended bounty on another with a false belief of the outcome of the transaction? Donna Matthews considers this question recently considered by the High Court of Justice of the Isle of Man The equitable jurisdiction is normally invoked where a disposition into a trust has unforeseen consequences …

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Offshore: The test for sham trusts

Nick Williams, James Angus and Matthew Davies discuss a sham trust case that raises pertinent points for both practitioners and trustees Even a trustee who is recklessly indifferent to the intentions of the settlor must, independently, have a positive intention to mislead third parties. In its judgment in Cohen and Crooks as Joint Administrators of …

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HMRC v Fisher & ors WTLR(w) 2021-14

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Offshore: The Manx court takes a stand

Paul Lewis and Stephen Alexander discuss protecting the office of protector When deciding whether to exercise a power to appoint a protector, trustees must take into account all relevant considerations and exclude from their reckoning all irrelevant considerations, even when a trust instrument ostensibly gives them carte blanche. Trust settlements may confer powers exercisable by …

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Offshore: What is appropriate?

Robert Lindley and Wesley O’Brien discuss cases where offshore courts act as auxiliaries to those onshore Generally, for a foreign judgment to be capable of enforcement in an offshore common law jurisdiction such as Cayman or Jersey, it must be final and conclusive, for the payment of a sum of money and made by a …

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Offshore: No joy for judgment creditors

James Sheedy looks at enforcing judgments against discretionary beneficiaries in Jersey The decision in Kea Investments is simply that a judgment creditor cannot take a shortcut to asset recovery by way of an arrêt. The Royal Court of Jersey has held in Kea Investments Ltd v Watson [2021] that it is not possible for a judgment …

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Offshore: A sting in the tail?

Recent Cayman Islands case law has focused on the effect of firewall and forum of administration provisions on trusts. Rachael Reynolds and Deborah Barker Roye examine current judicial thinking and how principles apply in England and Wales While the firewall legislation provides robust protection for Cayman trusts against attack from orders of foreign courts… it …

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