Despite mounting environmental concerns and political pressure around the use of private jets, the private aviation sector continues to experience strong growth, particularly in the Middle East and Asia. With increasing...more
5/17/2024
/ Asia ,
Aviation Industry ,
Beneficiaries ,
Bermuda ,
Cayman Islands ,
Corporate Structures ,
Middle East ,
Offshore Companies ,
Ownership Interest ,
Registration Requirement ,
Trustees ,
Trusts
Acquiring artworks, antiques, and other collectibles is a common pastime of private clients, for reasons that can vary greatly from profit-making to maintaining cultural ties, or simply as a general reflection of their...more
Many high-net-worth individuals and families use a private trust company (PTC) when looking to structure their family wealth. Given that settlors of trusts are sometimes reluctant to relinquish control over the assets...more
11/9/2023
/ Board of Directors ,
Cayman Islands ,
CIMA ,
Companies Act ,
Corporate Management ,
Corporate Structures ,
Philanthropy ,
Private Foundations ,
Private Trust Companies ,
Regulatory Requirements ,
Shareholders ,
Trustees ,
Trusts ,
Wealth Management
The Cayman Islands reformed its trust laws to provide a statutory mechanism by which flawed decisions of trustees and other fiduciaries can be set aside on application to the court. The codification of the Hastings‑Bass rule...more
5/10/2023
/ Beneficiaries ,
Board of Directors ,
Breach of Duty ,
Cayman Islands ,
Companies Act ,
EU ,
Fiduciary ,
Fiduciary Rule ,
Trustees ,
Trusts ,
UK ,
UK Supreme Court
Offshore Trust and Estate Litigation Update Series – Part II -
Following on from Part I of this series which summarised the Cayman Court’s consideration of a trustee’s application for the “blessing” of a “momentous...more
5/1/2023
/ Appeals ,
Beneficiaries ,
British Virgin Islands ,
Cayman Islands ,
Cross-Border ,
Offshore Companies ,
Oral Communications ,
Private Company Shares ,
Res Judicata ,
Trustees ,
Trusts ,
Wills
Offshore Trust and Estate Litigation Update Series – Part I -
Trust and estate disputes in both the Cayman Islands and the BVI, and claims against the actions of a trustee/executor or disputes related to an interested...more
In October 2022, the Privy Council delivered its judgment in the Z Trust case of Equity Trust (Jersey) Ltd (Respondent) v Halabi (in his capacity as Executor of the Estate of the late Mdam Intisar Nouri) (Jersey) which was...more
1/3/2023
/ Bermuda ,
British Virgin Islands ,
Cayman Islands ,
Creditors ,
Hong Kong ,
Indemnification ,
Indemnity ,
Insolvency ,
Trustees ,
Trusts ,
UK Privy Council
STAR Trusts are a form of trust that is exclusive to the Cayman Islands (Cayman), and which have a wide variety of practical applications. The unique features of a STAR Trust provide clients with structuring options that are...more
11/18/2021
/ Beneficiaries ,
Cayman Islands ,
Commercial Use ,
Duration of Status ,
Duty of Confidentiality ,
Enforcement ,
Family Businesses ,
Initial Public Offering (IPO) ,
Jurisdiction ,
Philanthropy ,
Special Purpose Acquisition Companies (SPACs) ,
Trustees ,
Trusts
Welcome to the sixth edition of our Private Client Bulletin, bringing you the latest private client and trust news and insights from Bermuda, the Cayman Islands, BVI and Asia.
This edition features articles on offshore...more
11/16/2021
/ Asia ,
Beneficiaries ,
Bermuda ,
British Virgin Islands ,
Cayman Islands ,
Divorce ,
Family Trusts ,
Foreign Judgments ,
Joinder ,
Jurisdiction ,
Marital Assets ,
Trust Protector Actions ,
Trustees ,
Trusts
Robert Lindley and Wesley O’Brien provide a step-by-step guide to dealing with missing or uncooperative beneficiaries -
It will be important for the trustee to be capable of demonstrating that it has made sufficient...more
Offshore: What is appropriate?
Robert Lindley and Wesley O’Brien discuss cases where offshore family courts act as auxiliaries to those onshore -
Generally, for a foreign judgment to be capable of enforcement in an...more
10/14/2021
/ Beneficiaries ,
Cayman Islands ,
Divorce ,
Family Law Courts ,
Foreign Judgments ,
Foreign Jurisdictions ,
International Litigation ,
Joinder ,
Jurisdiction ,
Trust Deeds ,
Trustees ,
Trusts ,
UK
Legislative amendments to the British Virgin Islands (“BVI”) trust legislation took effect on 9 July 2021 under the Trustee (Amendment) Act, 2021. The reforms introduce welcome improvements to the BVI’s Trustee Act and ensure...more