This representation was made by the principal beneficiary of the
Jeep Trust ("Mr K"). The Jeep Trust was
established in May 1998 with Regal Trustees Limited
("Regal") as trustee.
In 2003 Regal retired as trustee of the Jeep Trust in favour of
a company incorporated in Mauritius called Dinard Trustees Limited
("Dinard").
During 2007 Mr K considered terminating the Jeep Trust and
sought to have the entire trust fund appointed to him by the
trustee. Mr. K's financial advisors attempted to make contact
with Dinard to fulfil this appointment; however, they could not get
a response from Dinard. Despite the fact that Regal had retired as
trustee from the Jeep Trust, Mr K asked Regal for assistance. Regal
established that the Mauritius Financial Services Commission had
withdrawn Dinard's licence. However, no other further
information on Dinard could be obtained. The position at this time
was that the Jeep Trust was without a functioning trustee and
because of this, there
