Trustees
In Bermuda, the Supreme Court considered whether it has
jurisdiction to require the directors of a corporate trustee to
resign. The court held in In the Matter of the X Trust
that it has no jurisdiction to direct the removal of a director of
a corporate trustee, but went on to say that it does possess the
inherent jurisdiction in supervising a Bermudian trust to signify
that rather than removing the corporate trustee, it would be
desirable if one or more of the directors resign.
The Isle of Man courts also dealt with issues around changes of
trustees, but in relation to the rights and duties of the outgoing
trustees. In Dominion Fiduciary Services (Switzerland) SA v.
Montpelier (Trust and Corporate) Services Limited, Dominion
applied as the trustee of two trusts against Montpelier, the former
trustee, for the transfer of the assets of the trusts and to
require it to hand over all documents related to the trust.
Dominion argued that Montpelier was under an
