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A trustee's duty of confidentiality has recently been discussed and to some extent clarified in the recent Guernsey Court of Appeal decision of In re B; B v T (Court of Appeal, 11 July 2012). This summary has been prepared to provide you with a summary of the case as well as the general issues raised, but is not intended to cover all matters or to provide commentary. This summary does not constitute legal advice.
The limits of cost recovery in Guernsey litigation is an ever present issue for clients. It is even more acute where external lawyers are engaged because of the need for specialist assistance. This article explores those limits, with a focus on external lawyers' fees and the leading 2008 case of Ladbrokes PLC v Galaxy International Ltd.
The Guernsey States of Deliberation have approved changes to the Companies (Guernsey) Law, 2008 which include several key changes affecting insolvencies in Guernsey.The Guernsey States of Deliberation have approved changes to the Companies (Guernsey) Law, 2008 which include several key changes affecting insolvencies in Guernsey.
A summary of the key aspects of the Foundations (Guernsey) Law, 2012.
The Image Rights (Bailiwick of Guernsey) Ordinance 2012 (the Ordinance) and The Image Rights (Bailiwick of Guernsey) Regulations, 2012
The Foundations (Guernsey) Law, 2012 (Law) is awaiting Royal assent, expected to be given by the end of the year or early next year. Whilst Guernsey is not the first jurisdiction to provide for foundations, the Law does provide a number of unique options for individuals wishing to take advantage of the benefits provided by foundations. The purpose of this note is to provide both a general summary of the features of a Guernsey foundation, as well as a summary of these unique options that will be available under the Law.
Guernsey has been considering the introduction of local competition law since at least 2005 and by bringing into effect The Competition (Guernsey) Ordinance, 2012 on 1 August 2012, has introduced an effective Competition Law regime, to regulate the same 3 core areas recognized in most competition regimes, namely the abuse of a dominant position, anti-competitive arrangements, and mergers and acquisitions.
Guernsey law permits a purpose trust to be established with a particular purpose stated in the trust instrument and for which there are no ascertainable beneficiaries.
On 25 July 2012 the States of Deliberation, Guernsey’s parliament, approved the project de loi The Foundations (Guernsey) Law, 2012 (the “Law”). Subject to Privy Council approval, the Law is expected to come into force in late 2012 or early 2013. This note is a brief summary of certain features of the new Law.