Trusts And State Immunity – Can A Nation State Be Trustee?

A nation state can be trustee of a Jersey law express trust, even though it has state immunity against being sued for breach of trust or otherwise being held accountable for its trusteeship in domestic courts. The Royal Court has clarified this in the first case directly on this point to be decided in the Commonwealth.

It arose in Representation of Equiom Trust (CI) Limited re Estate of Constantin  Mattas  [2024]JRC068. This concerned a will that provided for various trusts. The final disposal of residue was to a trust to provide interest free loans to intelligent and promising young men of Greek Orthodox faith born in Greece of Greek, Greek Orthodox parents, for the purpose of them undertaking further university education in specified countries (the "Intended Trust"). The will also provided that the trustee of the Intended Trust would be the Greek Government (as recognised as such by the Government of the United Kingdom).