A Sting In The Tail: The Latest Instalment From The Crociani Litigation

Introduction

Although the substantive judgment in the Crociani litigation was handed down on 11 September last year¹, that vine still had some fruit to bear. In particular, two of the inquiries ordered by that judgment have now been decided in a subsequent judgment, which is the subject matter of this note². This subsequent judgment is particularly illuminative of the approach taken by the Royal Court when assessing liability of trustees for the loss of growth in the value of trust assets that were paid away in breach of trust.

Background

The Crociani litigation is relatively complex and has yielded useful judicial commentary on a number of issues, ranging from electronic discovery to the interpretation of forum and jurisdiction clauses. But for the present purposes, the history can be summarised as follows: