Re The K Trust Guernsey Judgment 31/2015
Wills & Trusts Law Reports | September 2016 #162The settlor established a discretionary settlement (K Trust) under the laws of Guernsey in 1990. The protector, who was the first respondent, and the original trustee were friends and advisors of the settlor. B1, who was the first applicant, married the settlor in 1991 but they did not have any children. When the settlor died in 2001, B1 was the only beneficiary of the K Trust. She requested that consideration be given to adding some of her relatives as beneficiaries. The second respondent (who had replaced the original trustee in 2002), with the consent of the protector, added B1’...
IFG International & ors v French 2012 CHP 0048
Wills & Trusts Law Reports | March 2013 #127The four claimants were professional trustees of a total of nine trusts, all governed under Isle of Man law. Some of nine trusts were created for the benefit of Samuel Wyly and his immediate family and the remainder for his brother Charles Wyly and his immediate family.
Michael French, the defendant, was either a protector or a member of the committee of trust protectors for each trust. He retired from all these positions in December 2000.
Proceedings had been brought against Mr French and the Wyly brothers in New York by the US Securities and Exchange Commission (the SEC...