Release Date: 14 October 1998

Thousands of Asset Protection Trusts (ATP) are created every year in jurisdictions such as the Bahamas, Belize, or Nevis, in an attempt to protect the assets of an increasing number of worried wealthy individuals scared to lose everything through adverse litigation or political instability. Barry Engel, the APT guru and Senior Partner of US law firm Engel, Reiman & Lockwood will address the audience of Shorex '98 The International Money Show in London on 20 October 1998 to reveal the latest developments concerning asset protection trusts and gage the efficiency of these offshore structures.

The concept of protecting assets from lawsuits and other legal processes such as asset freezes or forfeitures has stirred a fair amount of controversy over the years. Trusts are nothing new and have their roots in practically 1000 years of English history. However, offshore trusts proactively promoted as an asset protection tool dates no more than 20 years back. The idea behind this protection involves transferring a person's assets onto an offshore trust thus removing the ownership title of the asset from the original owner while keeping him as a beneficiary of the trust's assets. Complications can arise when a creditor understanding that all the debtor's assets are protected under trust, decides to attack the trust to recoup the funds. All these sensitive issues will by addressed by Barry Engel.

Governments and service providers of offshore centres having enacted trust legislation will also be exhibiting at Shorex '98. The Bahamas, Anguilla, Barbados, St. Kitts & Nevis, St. Vincent & The Grenadines, Cayman Islands, Belize, Dominica, Turks & Caicos, Malta, Gibraltar, Jersey and the Isle of Man will be amongst those represented at the show.

The asset protection trust presentation is part of Shorex '98, the world's largest display of offshore and international financial services and investment products. The event, open to the public, is primarily aimed at private and institutional investors as well as financial intermediaries. It takes place from 20th to 22nd October 1998 at the Business Design Centre in London. Participants at SHOREX '98 are fund managers, international banks, private banks, stock exchanges, offshore service providers, insurance firms, pension funds, trust companies, law firms, international tax planners and venture capitalists. More information on the participants can be obtained on 0171 482 1000.

Managing Director Philippe Gelin says: "Shorex '98 is much more than an international money show, it has become over the past three years the world's leading rendezvous for offshore providers and investors. More information and news on the offshore industry are accessible at the event than anywhere else. Shorex '98 takes the mystery out of the offshore industry by entitling the public to meet face to face with bankers, offshore company specialists and trustees coming from all the European and Caribbean offshore centres."

The exhibition and conference is sponsored by The International Herald Tribune, The Daily Telegraph, Stephenson Harwood.

Note to the press:

  • Philippe Gelin, age 36, is the founder of Shorex Ltd.
  • Photos of Philippe Gelin and the previous shows are also available.
  • Source: Shorex Ltd., 4 Heathgate Place, Agincourt Road, London NW3 2NU, UK. Contact: Ilona Iranyi, Tel: +44 171 482 1000 Fax: +44 171 482 1100
  • E-mail: Click Contact Link and Click Contact Link