Welcome to the latest edition of our Private Client and Trust bulletin. It is a pleasure to update you on various topics that we hope you will find of interest.
As in previous editions we bring you updates from Bermuda court trust proceedings, our colleagues in the Cayman Islands and the BVI, and an update from our colleagues in Asia.
In Bermuda, we saw the publication of the judgment of Hargun CJ in The Matter of the P Trusts, which focused on the validity of a settlement agreement made among three branches of a family several years ago, where commercial implementation of that agreement unfolds in a way not necessarily agreeable to all. Our litigation colleague Jonathan O’Mahony provides an analysis there.
In non-contentious matters, the Bermuda court was asked to consider the question of whether a change of governing law of a trust and disapplication of the rule against perpetuities will result in a resettlement of a trust. Davina Hargun updates us on those questions, confirming the longstanding position under English Law.
From Cayman and BVI we feature articles on reviewing governing documents, the rise of Cayman Foundation Companies, family offices and succession planning in the Cayman Islands, and resealing of foreign grants of probate in the British Virgin Islands, as well as updates and analyses of recent judgments including Batista v Batista and the Z Trust cases. We also introduce our newest team member, Tonicia Williams, an Associate in the Cayman Islands office.
In Asia, our colleague Peter Ch’ng sets out some observations from the Zhang Lan Offshore Trust case in Singapore, a cautionary tale which happens too often.
Keep exploring, but take the best advice!
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