Trust and estate disputes
Our contentious trusts and estates team offers a wealth of expertise in dealing with substantial trust and estate disputes in the UK but principally offshore and in international jurisdictions.
Our clients are typically blue-chip international trust companies, wealthy international private clients and professional trustees and executors.
We also advise and represent executors or beneficiaries involved in contentious estate matters, often with an international element and act for trustees caught in the cross-fire of divorce proceedings where the trustees are holding the bulk of the assets.
For more information please contact:
henrietta.nurney@speechlys.com
Experience
Trust Variation - Cayman
Acting for trustees in Cayman in relation to the variation of very substantial trusts ($600m) and the determination of administration matters in relation to those trusts. This continuing matter involves liasion with lawyers from many jurisdictions including US tax Counsel, UK leading Counsel and those acting for beneficiaries in difficult family circumstances, all with complex tax issues.
Hastings Bass Application - Cayman
Reported case in Cayman (ABC v Rothschild Trust Cayman [2005]) where the court followed the English case of Re:Hastings Bass in relation to setting aside the exercise of a trustee power of appointment. This had resulted in adverse tax consequences for the US resident beneficiary. We are subsequently dealing with difficult negotiations over the indemnity for Rothschild as retiring trustees and issues over the exercise of their lien (ATC (Cayman) Ltd v Rothschild Trust [2005]).
Complex international succession dispute
A dispute following the death of a British Citizen, domiciled in Switzerland, with a Bahamian will containing discretionary trusts made 20 years earlier. No provision had been made for his partner, and no tax planning or structuring had taken place for his estate or assets located in Switzerland, US and Bahamas. Our three year involvement has included reconciling probate and trust issues between common law and civil law jurisdictions and settling the dispute between the children and the girlfriend.
Acting for trustees joined in English matrimonial litigation Acting for Jersey trustees holding the bulk of the family assets in a complex structure of holding companies with underlying Hong Kong trading companies. The trustees have been joined to the English matrimonial proceedings but, on advice, have not submitted to the jurisdiction of the English court. We have been involved in advising the trustees as to the strategy to be adopted in the English family division in conjunction with Jersey advocates.
Breach of trust - Isle of Man
Acting for the object of a power of appointment, being a potential beneficiary of various IOM family trusts. Proceedings were issued in the Isle of Man last year seeking an order alleging breach of trust, removal of the Isle of Man trustee and other relief on the ground of palpable bias.
Trust and estate litigation - Hong Kong
Acting for a high net worth individual involved in a succession dispute and related proceeding in the Hong Kong High Court. The litigation involved an application to remove the executors and discovery applications in the USA. The litigation actually involved 18 sets of proceedings and a favourable settlement was secured.