Collas Crill is an offshore law firm with offices in BVI, Cayman, Guernsey, Jersey and London.
We deliver a comprehensive range of legal services to clients locally and globally in four broad practice areas: Financial Services and Regulatory; Insolvency and Corporate Disputes; Private Client and Trusts; and Real Estate.
Clients include some of the world’s leading financial institutions, international businesses, trusts and funds, as well as high-net-worth individuals and families across the globe. We continue to build a network of independent and trusted partners around the world including the Caribbean, the Channel Islands, the UK, Europe, the US, the Middle East, South Africa and Asia.
It is good news for former trustees! If you have recently
retired as trustee of a Jersey law governed trust you will be
comforted by the fact that the Jersey court has recently confirmed
that retired trustees do indeed have an "equitable lien"
over the trust fund of a trust for which they formerly
administered.
This lien provides retired trustees with a right to be
indemnified by their successors up to the trust assets held by such
successor. Importantly, this right is in addition to any
contractual right to be indemnified pursuant to an instrument of
retirement and appointment of trustees that the trustees may have
entered into. See In the matter of the Representation of the Z trusts [2015] JRC
031.
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.
