In a judgment of the Royal Court issued on 20 March 2019, In
the matter of the B Trust [2019] JRC 035, the Royal Court
indicated that delay in bringing an application to set aside a
transfer of property to a Jersey trust due to mistake would be a
factor taken into account when the court came to exercise its
discretion as to whether to grant relief. The court also clarified
the extent of its powers on such an application.
Facts
The background facts don't make easy reading.
Prior to establishing a Jersey law discretionary trust in 1998,
the Settlor received advice from Lincoln Trust Company (as
incumbent trustee) (Lincoln) which was as
follows:
“… we need to find an arrangement which offers
‘the best of both worlds’, in the sense of the
ownership of the assets truly resting elsewhere, and yet the
control remaining in your hands …
