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In the Matter of the Ta-Ming Wang Trust, 12 April 2010 (Unreported)

August 2010 - Finance. Legal Developments by Ogier .

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In this recent case, the Grand Court held that the Hastings Bass principle applied, not just to the actions and decisions of a trustee, but also to the actions and decisions of directors of a company owned by the Ta- Ming Wang Trust (the “Trust”), in declaring dividends, at the instance of the trustee in favour of the trustee; but that, on the available evidence, the decision of the directors could not be impugned.

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