Offshore Trust Disputes 2024: The Year That Was

This article was first published in issue 18 of ThoughtLeaders4's Private Client magazine.

2024 was another lively year for offshore and onshore contentious trust practitioners. 

Supervisory jurisdiction

In Cayman the Grand Court in AA v JTC (FSD 12/2024 (IKJ)) has, for the first time, set down the principles applicable to an application by an enforcer under Cayman's STAR trust regime for the Court's approval of a 'momentous' decision in relation to the proposed exercise of the enforcer's fiduciary powers. The Court will consider whether:

• the trustee and enforcer have the power to enter into the proposed transaction;
• the trustee and enforcer have genuinely concluded that the proposed transaction is in the interests of the trust and the objects of the trust;