ARTICLE · 08 JANUARY 2010

Discretionary Trusts: Mere Power Too Meagre To Stand?

Appleby

Contributor

Appleby

Appleby is a leading offshore law firm. The team of legal specialists advise global public and...

View firm profile

Explore more from Appleby

Does the object of a mere power have the necessary "locus standi" to sue for breach of trust?

JerseyWealth Management

Author LinkedIn connections

Does the object of a mere power have the necessary locus standi to sue for breach of trust? This was one of the questions which the Royal Court had to consider recently in the context of a strike out application in Freeman v Ansbacher Trustees (Jersey) Limited [2009] JRC003.

The settlement in question was a discretionary trust which provided for accumulation trusts of income, subject to powers of appointment of capital or income in favour of the specified class of beneficiaries until the vesting date, with ultimate default trusts in favour of the specified class.

Two of the plaintiffs in the proceedings alleging breach of trust were original members of the specified class whilst the third plaintiff had been added at a later date. The claims of the first two plaintiffs were found to be prescribed, leaving only the claims of the third plaintiff.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

FocUS: In Conversation With Ed Devenport

JerseyWealth Management

Jersey Finance Limited

Passion Assets: Challenges, Structures And Trends

European UnionWealth Management

The Family Office Journey To Institutionalisation

JerseyWealth Management

Jersey Finance Limited

Significant Growth For Collas Crill Trust Across The Channel Islands

JerseyWealth Management

Weathering The Storm: How To Protect Private Wealth In A Turbulent World

JerseyWealth Management

Jersey Finance Limited

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Wealth Management
- Wealth & Asset Management

See more popular content from

Wealth ManagementAppleby

Time To Say Goodbye: Our Employment Team Advise On The Best Ways To Terminate Employment

The termination of an employment contract is often described as being like a divorce if things don't go well; particularly so when post termination restrictions are involved.

JerseyWealth Management

The Foot Review

On 29 October 2009 HM Treasury in London published a report on the British Offshore Finance Centres, commissioned by The Chancellor of the Exchequer in December 2008 and prepared by Mr Michael Foot, a former senior Bank of England official.

JerseyWealth Management

Volaw Trust & Corporate Services Limited

Jersey Incorporated Holding Structures For UK Acquisitions

There has been an increasing level of interest in using Jersey corporate holding structures for UK public takeover offers and private acquisitions.

JerseyWealth Management

Jersey As A Platform For Growth: Systematica's Story

Jersey Finance's Head of Funds Elliot Refson talks to Paul Rouse, CFO at Leda Braga's Jersey-headquartered Systematica Investments, about how the hedge fund manager has evolved over the past decade and how Jersey continues to provide the jurisdictional platform to support its future ambitions...

JerseyWealth Management

Jersey Finance Limited

Multi Family Offices, The Marketing Illusion

Michael Shenkin takes a look at the branding of multi-family office services by financial institutions for Jersey’s 20/20 Magazine.

JerseyWealth Management

Hatstone Lawyers

Passion Assets: Challenges, Structures And Trends

Passion assets, including art, classic cars, jewellery and watches, fine wine, yachts, and aircraft, represent a unique segment of private wealth.

European UnionWealth Management

Company Law In Jersey - Registered Office

JerseyWealth Management

Company Law In Jersey - Cost

JerseyWealth Management

Company Law In Jersey - Accounting Date

JerseyWealth Management

Establishing A Business In Jersey - Finance

JerseyWealth Management

Guide To Venture Capital In The Cayman Islands 2026

The Cayman Islands has emerged as the world's premier offshore jurisdiction for venture capital fund formation and cross-border investment structuring, with over 30,900 alternative investment funds managing USD8.2 trillion in assets.

Cayman IslandsFinance and Banking

Guide To Companies In Mauritius

This is the Fourth Edition of the Guide, which we have produced for the information of our clients and professional colleagues. This edition takes account of changes brought about by the Companies Act 2001 and the Financial Services Act 2007.

MauritiusWealth Management

BMA Sets Out Phased Path To A Bermuda Insurance Resolution Regime

The Bermuda Monetary Authority has published a consultation paper outlining the first phase of a resolution regime for the commercial insurance sector, designed to align with international standards. The framework establishes the BMA as the Resolution Authority with five core objectives and defines which insurers will fall within scope. This phased approach raises important questions about governance, recovery planning, and the practical implications for domestic insurers and Internationally Active Insuranc

BermudaInsurance

New CIMA Rules On AML/CFT/CPF Compliance And Financial Sanctions Issued In The Cayman Islands

The Cayman Islands Monetary Authority has published two new Rules introducing binding requirements for regulated financial service providers regarding anti-money laundering, counter-terrorist financing...

Cayman IslandsGovernment, Public Sector

2026 Guide To Blockchain & Crypto-Assets In The Cayman Islands

This guide provides the latest legal information on the evolution and regulation of these markets, licensing and set-up requirements for businesses, cross-border services, decentralised finance...

Cayman IslandsTechnology

Guide To Trusts In The Isle Of Man

The Isle of Man offers wealthy families a politically stable, well-regulated and practical base in which to establish wealth and business succession planning structures. Modern and robust legislation, high-quality professional advisers and service providers, and a reputation for cost-effectiveness, all contribute to the island's attractiveness as a trusts jurisdiction.

Isle of ManWealth Management

Abraaj Group Fraud - Summary Judgment For Receivers Of Secured Lender For Information On The Fraud

The Grand Court has awarded summary judgment to certain limited partners seeking true and full information from the general partner under section 22 of the Exempted Limited Partnership Act.

Cayman IslandsCorporate/Commercial Law

The Long Game: How Bermuda Became The World’s Life Reinsurance Capital

Bermuda has emerged as the dominant global hub for life and annuity reinsurance, now holding over $900 billion in US life and annuity liabilities and accounting for 84% of all US reserves ceded offshore. This analysis examines how the island's sophisticated regulatory framework, purpose-built infrastructure, and commercially engaged regulator have created a structural advantage that extends beyond its traditional catastrophe reinsurance roots into long-dated life business from the US, UK, and Asia.

BermudaInsurance

Asda Equal Pay Claims: Victory For Shop Workers In The Court Of Appeal

Today the Court of Appeal handed down its judgment on comparability in the case of Asda Stores Ltd v Brierley and others [2019] EWCA Civ 44, which is the UK's largest ever private sector equal pay claim.

Isle of ManEmployment and HR

Changes To The Rules On Bermuda Status For Children

The Government of Bermuda has recently introduced changes to assist with the process of verifying and obtaining Bermuda status for children born to parents of Bermudians...

BermudaImmigration