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Baker & Partners Drive Best Practice for Local Trust Firms

April 2015

Baker & Partners have issued a Guidance Note covering the retirement, replacement and removal of trustees, with information of great relevance to Jersey’s legal community and the broader legal and financial sectors. 

Given Jersey’s reputation as a well-regulated financial centre and the base for many trust funds, the question of the retirement, replacement and removal of trustees is highly important locally. The publication covers the lessons to be learnt from recent court cases in Jersey, including questions of liability, practical implications for trustees faced with the prospect of leaving office, and the practical and legal implications for all concerned in the event of a breach of trust.

The Guidance Note builds on the breakfast briefing earlier this month on the same topic, which was attended at full capacity, and delivered by Baker & Partners’ Advocate William Redgrave and Associate James Sheedy. This forms part of a series of breakfast briefings and accompanying Guidance Notes to be provided by Baker and Partners, where they share their knowledge for the benefit of local and wider industry.

Associate James Sheedy commented:

“There is a marked appetite in Jersey for clear information and guidance on these matters. We share our expertise with the legal and financial community to encourage best practice and provide practical examples of what can go wrong, so local businesses can avoid repeating these mistakes.”

The guidance note can be viewed here 

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