Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 18 JULY 2008

No Power To Vary A Fixed Trust

Appleby
Appleby
Contributor
Appleby

Appleby

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

View firm profile
Explore more from Appleby

In the recent case of In the Matter of the Turino Consolidated Ltd. Retirement Trust [2008] JRC100, the Royal Court considered the variation of a fixed trust.

JerseyWealth Management
Appleby Global
Appleby Global
Author LinkedIn connections

In the recent case of In the Matter of the Turino Consolidated Ltd. Retirement Trust [2008] JRC100, the Royal Court considered the variation of a fixed trust.

ISSUES DECIDED

The Royal Court confirmed that the general supervisory power of the court arising from Article 51 of the Trusts (Jersey) Law 1984 ("the Law") does not confer a power on the Royal Court to vary the terms of a fixed trust.1

It held that the Royal Court cannot enforce or give effect to any judgment of a foreign court which purports to vary a fixed trust as the Royal Court cannot give effect to an order which it has no power to make or which the trustees have no power to carry out. The Court can only act in accordance with the terms of the trust and the law.

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

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

Read more about

See more popular content from

Article

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
Appleby
Appleby
Article

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
Appleby
Appleby