Trust Essentials - July 2019

Z trusts judgment: whose rights take priority when a trust is insolvent?

Jersey's Court of Appeal has handed down its long awaited judgment in the Z Trusts case. The decision considers important questions regarding the equitable rights of a former trustee, and whether those rights have priority over the rights of other claimants to the assets of a trust (including successor trustees) whose liabilities exceed its assets.

Jersey Royal Court rules on the extent of its powers to restrict a party that withdraws trust proceedings from starting afresh

Jersey's Royal Court has recently ruled on the extent of its powers to restrict a party that withdraws proceedings from starting afresh in a judgment that considers for the first time the implications of a 2014 English Court of Appeal decision on the public interest in there being finality in litigation.