In December 2019 the Guernsey Court of Appeal upheld the
judgment of the Guernsey Royal Court in Rusnano Capital AG (in
liquidation) v Molard International (PTC) Limited and Pullborough
International Corp [2019] GRC 011 in relation to the statutory
'Saunders v Vautier' provisions under the Trusts
(Guernsey) Law, 2007 (the "Law") .
The position remains therefore that beneficiaries of a
discretionary trust can require trustees to terminate a trust and
distribute the trust property, even in circumstances where a broad
power to add further (unspecified) beneficiaries exists. On
the back of that decision the Court of Appeal has now (29 January
2020) handed down its interesting and, in part, novel judgment
dealing with the question of the Trustee's costs.
