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ARTICLE · 09 JANUARY 2023

In The Matter Of The AB Settlement [2022] SC (Bda) 92 Civ

Carey Olsen
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The recent judgment issued by the Supreme Court of Bermuda in the case of In the Matter of the AB Settlement [2022] SC (Bda) 92 Civ provides very helpful authority on the question...

BermudaLitigation, Mediation & Arbitration
Keith Robinson
Keith Robinson
Laura Kearns
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The recent judgment issued by the Supreme Court of Bermuda in the case of In the Matter of the AB Settlement [2022] SC (Bda) 92 Civ provides very helpful authority on the question of whether trust restructurings under Bermuda statute constitute resettlements.

The case concerned a substantial English law trust, referred to in the judgment as the AB Settlement. The trustees of the AB Settlement considered that it would be advantageous to the beneficiaries for (1) the trust period of the AB Settlement to be extended beyond its termination date in 2047 and (2) the AB Settlement to be varied to modernise its terms, enable provision to be made for charity and increase flexibility in relation to the beneficiaries.

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