The Grand Court's recent decision in the matter
of AA v JTC (Cayman) Limited (FSD 12 of 2024
(IKJ))1 is of particular significance and
interest to Cayman Islands trust practitioners and trust
professionals further afield because it is believed to be the first
time an enforcer of a Cayman Islands ‘STAR' trust has
brought an application pursuant to section 48 and 102(b) of the
Trusts Act (as amended) for directions and the
‘blessing' of a ‘momentous' decision. As a
result, Kawaley J was minded to give his reasons for granting the
application to enhance the jurisdiction's jurisprudence in
this area.
Appleby acted for the Defendant, JTC (Cayman)
Limited.
Background
The application sought approval for the Enforcer's
decision to instruct the Trustee to exercise particular rights
attached to shares held by the Trustee in an underlying company for
the benefit of the Trust. Exercising these share rights was pivotal
to the purpose of the Trust.
