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Bermuda Court of Appeal Upholds Decision of Supreme Court to Order Disclosure

It is not unusual for a settlor to impose confidentiality conditions upon trustees by the terms of the trust. However, there are limits to the extent to which information may be withheld from beneficiaries. Ultimately all such conditions are subject to review by the Court under its supervisory jurisdiction to ensure the proper administration of trusts. In the matter of an Application for Information about a Trust [2013] CA (Bda) 8 Civ, the Bermuda Court of Appeal held that a restrictive veto power to withhold information could only be supported if it was consistent with the proper administration of the trust. Disclosure of financial information to a beneficiary was ordered as it was considered necessary to ensure that the trustees were held accountable to their beneficiaries.

 

To continue reading full articles in PDF format:
Bermuda Court of Appeal Upholds Decision of Supreme Court to Order Disclosure

 


Alec R. Anderson
Director, Global Head of Private Client & Trust

Bermuda   +1 441 299 4945


Helen E. Cooper
Director

Bermuda   +1 441 299 4956


Karen A. Corless
Director

Bermuda   +1 441 298 7880




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Alerts

Bermuda Court of Appeal Upholds Decision of Supreme Court to Order Disclosure

It is not unusual for a settlor to impose confidentiality conditions upon trustees by the terms of the trust. However, there are limits to the extent to which information may be withheld from beneficiaries. Ultimately all such conditions are subject to review by the Court under its supervisory jurisdiction to ensure the proper administration of trusts. In the matter of an Application for Information about a Trust [2013] CA (Bda) 8 Civ, the Bermuda Court of Appeal held that a restrictive veto power to withhold information could only be supported if it was consistent with the proper administration of the trust. Disclosure of financial information to a beneficiary was ordered as it was considered necessary to ensure that the trustees were held accountable to their beneficiaries.

 

To continue reading full articles in PDF format:
Bermuda Court of Appeal Upholds Decision of Supreme Court to Order Disclosure

 


Alec R. Anderson
Director, Global Head of Private Client & Trust

Bermuda   +1 441 299 4945


Helen E. Cooper
Director

Bermuda   +1 441 299 4956


Karen A. Corless
Director

Bermuda   +1 441 298 7880




 

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Bermuda


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Bermuda