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When seeking to set aside a transaction on the basis of mistake in Guernsey where the underlying reason that the transfer took place was to engage in legitimate tax planning methods the Royal Court is unlikely to find that this would be a public policy reason justifying the refusal of the relief.
A recent judgment has made clear that when seeking to set aside
a transaction on the basis of mistake in Guernsey where the
underlying reason that the transfer took place was to engage in
legitimate tax planning methods the Royal Court is unlikely to find
that this would be a public policy reason justifying the refusal of
the relief. This is a decision which will be of particular interest
to lawyers and other advisors considering the possibility of such
applications succeeding.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
